Cerebras Systems Inc.’s Quiet Period Set To Expire on June 23rd (NASDAQ:CBRS)

Cerebras Systems’ (NASDAQ:CBRS) quiet period will expire on Tuesday, June 23rd. Cerebras Systems had issued 30,000,000 shares in its initial public offering on May 14th. The total size of the offering was $5,550,000,000 based on an initial share price of $185.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

Several brokerages have recently issued reports on CBRS. Morgan Stanley began coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set an “overweight” rating and a $250.00 price target on the stock. Needham & Company LLC began coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set a “buy” rating and a $300.00 price target on the stock. Mizuho began coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set an “outperform” rating and a $300.00 price target on the stock. Barclays began coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set an “overweight” rating and a $280.00 price target on the stock. Finally, TD Cowen began coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set a “buy” rating and a $275.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $294.00.

Cerebras Systems Trading Up 1.9%

Shares of CBRS opened at $218.03 on Tuesday. Cerebras Systems has a 1 year low of $196.73 and a 1 year high of $386.34.

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.