Cerebras Systems Inc. (CBRS) – What Are Investment Firms Thinking About This Stock?

Shares of Cerebras Systems Inc. (NASDAQ:CBRS) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $261.80.

A number of analysts have recently issued reports on the company. UBS Group cut their price objective on Cerebras Systems from $330.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Rosenblatt Securities reissued a “buy” rating and set a $300.00 target price on shares of Cerebras Systems in a report on Wednesday, August 19th. Wall Street Zen upgraded Cerebras Systems from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Morgan Stanley dropped their price target on Cerebras Systems from $279.00 to $178.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Wedbush cut their price target on Cerebras Systems from $290.00 to $190.00 and set an “outperform” rating for the company in a report on Monday.

Cerebras Systems Stock Performance

Shares of NASDAQ:CBRS opened at $101.08 on Thursday. Cerebras Systems has a 52-week low of $77.84 and a 52-week high of $386.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.82 and a quick ratio of 5.80. The firm has a market cap of $24.01 billion and a P/E ratio of -1,263.50. The firm has a 50-day moving average price of $154.39.

Cerebras Systems (NASDAQ:CBRS) last announced its quarterly earnings results 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 business had revenue of $209.87 million during the quarter. The company’s revenue for the quarter was up 74.3% compared to the same quarter last year. As a group, equities analysts forecast that Cerebras Systems will post -0.52 earnings per share for the current year.

More Cerebras Systems News

Investors following CBRS have been watching these news items:

• Positive Sentiment: Bilt selected Cerebras to power AI features for its Neighborhood OS and Bilt Concierge, potentially extending Cerebras’ infrastructure to Bilt’s more than eight million members. The deal supports the company’s customer-growth story. Bilt partnership announcement
• Positive Sentiment: A news report attributed CBRS’s rise to the Bilt partnership and expectations for earnings. Previews point to strong AI-inference demand and cloud adoption as potential Q3 tailwinds, though the results have not yet been reported in the articles provided. Stock and earnings outlook Q3 earnings outlook and risks
• Neutral Sentiment: Q3 previews focus on revenue, demand and margins. Investors will weigh growth prospects against persistent losses, margin pressure and valuation concerns. Q3 earnings preview

Insider Transactions at Cerebras Systems

In other news, CTO Sean Lie sold 710,247 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $207.86, for a total value of $147,631,941.42. Following the transaction, the chief technology officer directly owned 368,926 shares of the company’s stock, valued at $76,684,958.36. This represents a 65.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Feldman sold 237,559 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $199.27, for a total transaction of $47,338,381.93. Following the sale, the chief executive officer owned 16,853 shares of the company’s stock, valued at approximately $3,358,297.31. This represents a 93.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,924,452 shares of company stock valued at $394,628,154.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CBRS. Value Aligned Research Advisors LLC acquired a new stake in Cerebras Systems during the second quarter worth approximately $241,934,000. Washington University boosted its holdings in shares of Cerebras Systems by 175.3% during the third quarter. Washington University now owns 1,517,400 shares of the company’s stock worth $269,566,000 after acquiring an additional 966,314 shares during the period. Wellington Management Group LLP bought a new stake in shares of Cerebras Systems during the second quarter worth approximately $194,853,000. Lunate Capital Ltd acquired a new position in shares of Cerebras Systems in the third quarter valued at approximately $115,351,000. Finally, State Street Corp acquired a new position in shares of Cerebras Systems in the second quarter valued at approximately $105,343,000.

About Cerebras Systems

Cerebras Systems develops computing systems and software designed for artificial intelligence and other compute-intensive workloads. Its products are built around the Wafer-Scale Engine, a large processor designed to support AI model training and inference, and include the CS-3 system and related software. The company also offers cloud-based access to its AI computing infrastructure, giving customers a way to run AI workloads without deploying its systems on site. Its offerings are aimed at organizations developing and operating large AI models, including businesses, research institutions and public-sector customers.