Cerebras Systems Inc. (NASDAQ:CBRS) Receives Average Recommendation of “Buy” from Analysts

Shares of Cerebras Systems Inc. (NASDAQ:CBRS) have been assigned a consensus rating of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $294.00.

Several equities analysts recently commented on the company. Rosenblatt Securities assumed coverage on Cerebras Systems in a research report on Monday, June 8th. They set a “buy” rating and a $300.00 target price for the company. Citigroup began coverage on Cerebras Systems in a research note on Monday, June 8th. They issued a “buy” rating and a $340.00 target price for the company. TD Cowen assumed coverage on Cerebras Systems in a research note on Monday, June 8th. They issued a “buy” rating and a $275.00 target price for the company. Barclays assumed coverage on Cerebras Systems in a research note on Monday, June 8th. They set an “overweight” rating and a $280.00 price objective for the company. Finally, Wall Street Zen cut Cerebras Systems from a “hold” rating to a “strong sell” rating in a research note on Saturday.

Cerebras Systems Price Performance

Shares of CBRS stock opened at $214.00 on Monday. Cerebras Systems has a 12 month low of $196.73 and a 12 month high of $386.34.

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.