Cerebras Systems Inc. (NASDAQ:CBRS – Get Free Report)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $192.15 and last traded at $196.0350, with a volume of 4457010 shares traded. The stock had previously closed at $226.72.
Cerebras Systems News Summary
Here are the key news stories impacting Cerebras Systems this week:
- Positive Sentiment: Cerebras reported first-quarter revenue of about $193.4 million, topping estimates, and also beat EPS expectations in its debut post-IPO earnings report. The company said demand remains strong, supported by major customer relationships including OpenAI and AWS. Article Title
- Positive Sentiment: Analysts at Needham and Wedbush reiterated bullish views on Cerebras, with price targets well above the current trading range, signaling continued confidence in the company’s long-term AI growth story. Article Title
- Neutral Sentiment: A market article argued Cerebras could be a “rags-to-riches” AI story, but noted hurdles remain as the company works to prove it can scale its inference and cloud businesses profitably. Article Title
- Negative Sentiment: The stock is falling because management guided for gross margins to decline sharply in the near term, raising concerns that rapid growth is coming with heavier costs and weaker profitability than investors expected. Article Title
- Negative Sentiment: Several reports said the post-IPO selloff accelerated after the earnings release, with shares dropping below the IPO price and concerns growing about scalability, capital intensity, and margin compression in the cloud/services mix. Article Title
- Negative Sentiment: Pomerantz LLP announced an investor investigation into Cerebras, adding a legal overhang that may increase uncertainty around the stock. Article Title
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CBRS. Wall Street Zen raised Cerebras Systems from a “strong sell” rating to a “sell” rating in a report on Sunday, June 21st. Morgan Stanley increased their price target on shares of Cerebras Systems from $250.00 to $273.00 and gave the company an “overweight” rating in a report on Wednesday. Wedbush boosted their price objective on shares of Cerebras Systems from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen initiated coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set a “buy” rating and a $275.00 price objective for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $300.00 target price on shares of Cerebras Systems in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Cerebras Systems has a consensus rating of “Buy” and an average target price of $299.30.
Cerebras Systems Stock Down 7.5%
Cerebras Systems (NASDAQ:CBRS – Get Free Report) last released its quarterly earnings data on Tuesday, June 23rd. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $193.41 million for the quarter, compared to the consensus estimate of $180.70 million.
Cerebras Systems Company Profile
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.
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