Cerebras Systems (NASDAQ:CBRS) Stock Rating Upgraded by Freedom Capital

Cerebras Systems (NASDAQ:CBRS) was upgraded by equities research analysts at Freedom Capital to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently weighed in on CBRS. Wall Street Zen upgraded shares of Cerebras Systems from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 21st. Wedbush raised their target price on shares of Cerebras Systems from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Citigroup assumed coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set a “buy” rating and a $340.00 price target for the company. Mizuho began coverage on shares of Cerebras Systems in a report on Monday, June 8th. They set an “outperform” rating and a $300.00 price target on the stock. Finally, TD Cowen assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued a “buy” rating and a $275.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.30.

Cerebras Systems Stock Performance

NASDAQ:CBRS opened at $221.00 on Monday. Cerebras Systems has a 1 year low of $160.81 and a 1 year high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last released its earnings results on Tuesday, June 23rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $193.41 million for the quarter, compared to the consensus estimate of $180.70 million.

Insiders Place Their Bets

In other news, CEO Andrew D. Feldman sold 17,990 shares of Cerebras Systems stock in a transaction 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 completion of the sale, the chief executive officer directly owned 17,990 shares in the company, valued at approximately $3,113,349.40. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Dhiraj Mallick sold 20,000 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $173.73, for a total transaction of $3,474,600.00. Following the sale, the chief operating officer directly owned 33,130 shares of the company’s stock, valued at $5,755,674.90. This represents a 37.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 107,547 shares of company stock valued at $18,611,699 in the last three months.

Cerebras Systems News Summary

Here are the key news stories impacting Cerebras Systems this week:

• Positive Sentiment: Unusual call option buying pointed to rising speculative interest in Cerebras Systems (CBRS), which can support the stock as traders bet on more upside.
• Positive Sentiment: Recent media coverage highlighted Cerebras as one of the “best new stocks to buy,” reinforcing investor attention around the AI chipmaker. Here’s Why Cerebras (CBRS) is Among the 10 Best New Stocks to Buy Other Than SpaceX
• Positive Sentiment: The company’s latest earnings beat expectations, with revenue and EPS both coming in better than analysts expected, which remains a key reason for the stock’s recent strength.
• Neutral Sentiment: Several analysts recently raised price targets and reiterated bullish ratings on CBRS, which helps sentiment but does not by itself change fundamentals.
• Negative Sentiment: A series of insider sales by the CEO, CTO, COO, and CAO may pressure sentiment, even though the company said the sales were tied to tax withholding on vested equity awards.
• Negative Sentiment: A law firm’s investor alert about possible claims involving Cerebras adds some caution, though no wrongdoing has been established. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Cerebras Systems Inc. – CBRS

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.