Cerebras Systems Inc. (NASDAQ:CBRS – Get Free Report) shot up 7.7% on Wednesday . The company traded as high as $230.85 and last traded at $228.6420. 950,505 shares were traded during trading, a decline of 86% from the average session volume of 6,739,491 shares. The stock had previously closed at $212.25.
Analyst Ratings Changes
A number of research firms have weighed in on CBRS. Needham & Company LLC began coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set a “buy” rating and a $300.00 target price on the stock. TD Cowen began coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set a “buy” rating and a $275.00 target price on the stock. Craig Hallum began coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set a “buy” rating and a $325.00 target price on the stock. Wall Street Zen cut shares of Cerebras Systems from a “hold” rating to a “strong sell” rating in a research note on Saturday. Finally, UBS Group began coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set a “buy” rating and a $300.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $294.00.
Read Our Latest Stock Report on CBRS
Cerebras Systems Stock Performance
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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