Cerebras Systems (NASDAQ:CBRS) Price Target Raised to $290.00

Cerebras Systems (NASDAQ:CBRS) had its price target boosted by stock analysts at Wedbush from $280.00 to $290.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 10.66% from the stock’s previous close.

Several other equities research analysts have also weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $300.00 target price on shares of Cerebras Systems in a report on Thursday. Zacks Research upgraded Cerebras Systems to a “hold” rating in a report on Tuesday, June 9th. Craig Hallum assumed coverage on Cerebras Systems in a research report on Monday, June 8th. They set a “buy” rating and a $325.00 price objective for the company. TD Cowen began coverage on Cerebras Systems in a report on Monday, June 8th. They set a “buy” rating and a $275.00 price objective for the company. Finally, Freedom Capital raised Cerebras Systems to a “hold” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $301.90.

Cerebras Systems Stock Up 11.6%

CBRS stock opened at $262.06 on Thursday. The business’s fifty day moving average price is $208.55. Cerebras Systems has a twelve month low of $160.81 and a twelve month high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last released its earnings results on Wednesday, August 12th. The company reported ($2.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($2.77). The business had revenue of $209.87 million for the quarter. The company’s revenue for the quarter was up 74.3% compared to the same quarter last year. On average, equities research analysts predict that Cerebras Systems will post -0.89 earnings per share for the current fiscal year.

Insider Activity at Cerebras Systems

In other news, CTO Sean Lie sold 10,033 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $170.07, for a total transaction of $1,706,312.31. Following the completion of the sale, the chief technology officer owned 10,033 shares in the company, valued at $1,706,312.31. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Dhiraj Mallick sold 36,131 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $169.28, for a total value of $6,116,255.68. Following the completion of the transaction, the chief operating officer directly owned 33,314 shares in the company, valued at $5,639,393.92. The trade was a 52.03% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 117,547 shares of company stock worth $20,676,799 in the last quarter.

Institutional Trading of Cerebras Systems

An institutional investor recently bought a new stake in Cerebras Systems stock. Bank of New York Mellon Corp acquired a new stake in Cerebras Systems Inc. (NASDAQ:CBRS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 27,682 shares of the company’s stock, valued at approximately $6,118,000.

Cerebras Systems News Summary

Here are the key news stories impacting Cerebras Systems this week:

• Positive Sentiment: Cerebras reported second-quarter revenue of $209.9 million, up 74.3% year over year. Its fast-inference cloud business grew 287% to $127.7 million, highlighting continued demand for its AI systems. Cerebras raises annual targets on strong AI chip demand
• Positive Sentiment: The company raised its 2026 revenue forecast to $880 million-$890 million, above the $864.6 million analyst consensus, and projected third-quarter revenue of $214 million-$216 million versus expectations of $211 million.
• Positive Sentiment: Rosenblatt Securities reaffirmed its “buy” rating with a $300 price target, while Mizuho maintained an “outperform” rating and set a $300 target after lowering its previous target from $310. Both targets imply approximately 14.5% potential upside from the referenced price. Analyst ratings and price targets
• Positive Sentiment: A planned Minnesota AI data-center campus with CleanCore Solutions, which is rebranding as Zone Frontier, represents approximately $800 million of contracted value over an initial 10-year term and could exceed $3 billion if extended. CleanCore Minnesota AI data-center update
• Negative Sentiment: Adjusted earnings were a loss of $2.98 per share, far below the expected loss of $0.21. The sharp bottom-line miss overshadowed the revenue growth and raised concerns about profitability and execution.
• Negative Sentiment: Investors also questioned whether Cerebras can effectively challenge Nvidia in AI chips. The results have therefore weakened the near-term growth narrative, even though management raised its revenue and gross-margin outlook. Cerebras slumps as mixed quarterly results test AI growth narrative

About Cerebras Systems

Cerebras Systems is a technology company focused on building artificial intelligence infrastructure, including hardware and software designed to accelerate deep learning and large-scale AI workloads. The company is best known for its wafer-scale processor architecture, which is intended to provide high-performance compute for training and inference applications.

In addition to its AI chips, Cerebras offers systems and related software tools that support researchers and enterprises working with machine learning models.