Cerebras Systems (NASDAQ:CBRS) Raised to Hold at Freedom Capital

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

Other research analysts also recently issued reports about the company. Craig Hallum started coverage on Cerebras Systems in a research note on Monday, June 8th. They issued a “buy” rating and a $325.00 price target for the company. Zacks Research upgraded shares of Cerebras Systems to a “hold” rating in a research report on Tuesday, June 9th. Barclays began coverage on shares of Cerebras Systems in a report on Monday, June 8th. They issued an “overweight” rating and a $280.00 target price on the stock. UBS Group raised their target price on shares of Cerebras Systems from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Finally, Mizuho assumed coverage on shares of Cerebras Systems in a report on Monday, June 8th. They issued an “outperform” rating and a $300.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Cerebras Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.30.

Cerebras Systems Trading Up 2.2%

Shares of CBRS stock opened at $221.00 on Monday. Cerebras Systems has a one year low of $160.81 and a one year high of $386.34.

Cerebras Systems (NASDAQ:CBRS) last issued its quarterly earnings results on Tuesday, June 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $193.41 million during the quarter, compared to analysts’ expectations of $180.70 million.

Insider Transactions at Cerebras Systems

In related news, COO Dhiraj Mallick sold 20,000 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $173.73, for a total value of $3,474,600.00. Following the completion of the transaction, the chief operating officer directly owned 33,130 shares of the company’s stock, valued at approximately $5,755,674.90. This trade represents a 37.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Yagnesh Patel sold 3,954 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $174.03, for a total transaction of $688,114.62. Following the completion of the sale, the chief accounting officer owned 3,954 shares in the company, valued at $688,114.62. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 107,547 shares of company stock worth $18,611,699.

Key Stories Impacting Cerebras Systems

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.