Cerebras Systems (NASDAQ:CBRS) Given New $290.00 Price Target at Wedbush

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

A number of other equities analysts have also commented on the stock. Zacks Research raised shares of Cerebras Systems to a “hold” rating in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of Cerebras Systems from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 21st. Barclays initiated coverage on shares of Cerebras Systems in a report on Monday, June 8th. They issued an “overweight” rating and a $280.00 target price on the stock. Craig Hallum started coverage on shares of Cerebras Systems in a report on Monday, June 8th. They set a “buy” rating and a $325.00 price target for the company. Finally, Morgan Stanley boosted their price objective on Cerebras Systems from $273.00 to $279.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $301.90.

Cerebras Systems Stock Performance

Cerebras Systems stock opened at $262.06 on Thursday. Cerebras Systems has a one year low of $160.81 and a one year high of $386.34. The stock’s fifty day simple moving average is $208.55.

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

Insider Transactions at Cerebras Systems

In other news, CEO Andrew D. Feldman sold 17,990 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $173.06, for a total transaction of $3,113,349.40. Following the sale, the chief executive officer directly owned 17,990 shares in the company, valued at approximately $3,113,349.40. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Dhiraj Mallick sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $206.51, for a total value of $2,065,100.00. Following the completion of the transaction, the chief operating officer owned 10,000 shares of the company’s stock, valued at $2,065,100. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 117,547 shares of company stock valued at $20,676,799 in the last ninety days.

Hedge Funds Weigh In On Cerebras Systems

An institutional investor recently bought a new position in Cerebras Systems stock. Bank of New York Mellon Corp bought a new stake in shares of Cerebras Systems Inc. (NASDAQ:CBRS) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 27,682 shares of the company’s stock, valued at approximately $6,118,000.

Key Cerebras Systems News

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.