Cerebras Systems (NASDAQ:CBRS) Trading Up 7.7% – Should You Buy?

Shares of Cerebras Systems Inc. (NASDAQ:CBRS) traded up 7.7% during trading on Wednesday . The stock traded as high as $230.85 and last traded at $228.6420. Approximately 950,505 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 6,739,491 shares. The stock had previously closed at $212.25.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CBRS shares. Wedbush started coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued an “outperform” rating and a $270.00 price objective for the company. Barclays started coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set an “overweight” rating and a $280.00 price target for the company. Wall Street Zen lowered Cerebras Systems from a “hold” rating to a “strong sell” rating in a report on Saturday, June 13th. Zacks Research raised Cerebras Systems to a “hold” rating in a research note on Tuesday, June 9th. Finally, Craig Hallum began coverage on Cerebras Systems in a report on Monday, June 8th. They set a “buy” rating and a $325.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $294.00.

Cerebras Systems Price 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.