Cerebras Systems (NASDAQ:CBRS) Trading Up 15.1% – Here’s Why

Shares of Cerebras Systems Inc. (NASDAQ:CBRS) were up 15.1% during mid-day trading on Monday . The company traded as high as $217.88 and last traded at $231.3140. Approximately 1,034,725 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 7,267,270 shares. The stock had previously closed at $201.01.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CBRS shares. Mizuho set a $300.00 price target on Cerebras Systems and gave the stock an “outperform” rating in a research note on Monday. Morgan Stanley initiated coverage on shares of Cerebras Systems in a report on Monday. They set an “overweight” rating and a $250.00 price objective for the company. Citigroup initiated coverage on shares of Cerebras Systems in a report on Monday. They set a “buy” rating and a $340.00 price objective for the company. UBS Group initiated coverage on shares of Cerebras Systems in a report on Monday. They set a “buy” rating and a $300.00 price objective for the company. Finally, Barclays initiated coverage on shares of Cerebras Systems in a report on Monday. They set an “overweight” rating and a $280.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $290.56.

Cerebras Systems Price Performance

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.