Cerebras Systems (NASDAQ:CBRS) Stock Gets Price Target Reduction from Morgan Stanley

Cerebras Systems (NASDAQ:CBRS) had its price target reduced by Morgan Stanley from $279.00 to $178.00 in a research note published on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group upgraded shares of Cerebras Systems to an “outperform” rating in a research report on Monday, October 5th. Weiss Ratings lowered shares of Cerebras Systems from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, November 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $300.00 price objective on shares of Cerebras Systems in a report on Wednesday, August 19th. Citigroup cut their target price on shares of Cerebras Systems from $340.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Finally, Freedom Capital raised Cerebras Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.80.

Cerebras Systems Stock Performance

Shares of NASDAQ:CBRS opened at $101.08 on Monday. The firm has a fifty day moving average price of $154.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.80 and a current ratio of 5.82. Cerebras Systems has a 52 week low of $77.84 and a 52 week high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last announced its earnings results on Wednesday, August 12th. The company reported ($2.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($2.77). The company had revenue of $209.87 million for the quarter. The company’s revenue for the quarter was up 74.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cerebras Systems will post -0.52 earnings per share for the current fiscal year.

Insider Activity at Cerebras Systems

In related news, Director Steven Vassallo sold 50,000 shares of Cerebras Systems stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $210.30, for a total value of $10,515,000.00. Following the completion of the transaction, the director directly owned 171,977 shares of the company’s stock, valued at $36,166,763.10. The trade was a 22.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Yagnesh Patel sold 1,320 shares of the company’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $204.50, for a total transaction of $269,940.00. Following the transaction, the chief accounting officer owned 15,356 shares in the company, valued at approximately $3,140,302. This trade represents a 7.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,924,452 shares of company stock valued at $394,628,154.

Institutional Investors Weigh In On Cerebras Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Trust Services Inc. acquired a new position in shares of Cerebras Systems during the third quarter worth approximately $26,000. GK Wealth Management LLC bought a new stake in shares of Cerebras Systems during the third quarter valued at approximately $31,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Cerebras Systems in the third quarter valued at approximately $31,000. Torren Management LLC acquired a new stake in shares of Cerebras Systems in the third quarter valued at approximately $39,000. Finally, Silicon Valley Capital Partners acquired a new stake in shares of Cerebras Systems in the second quarter valued at approximately $44,000.

Cerebras Systems News Summary

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
• Negative Sentiment: The lockup expiration may increase the supply of shares available for trading if insiders or early investors sell. Separately, Pomerantz said it is investigating potential investor claims, adding legal uncertainty; the notice does not establish wrongdoing. Lockup expiration coverage Investor investigation notice

Cerebras Systems Company Profile

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.