Cerebras Systems (NASDAQ:CBRS) Cut to “Strong Sell” at Wall Street Zen

Cerebras Systems (NASDAQ:CBRS) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research note issued on Saturday.

Several other analysts also recently commented on CBRS. Rosenblatt Securities began coverage on shares of Cerebras Systems in a report on Monday, June 8th. They issued a “buy” rating and a $300.00 price objective on the stock. Barclays began coverage on shares of Cerebras Systems in a report on Monday. They issued an “overweight” rating and a $280.00 price objective on the stock. Mizuho began coverage on shares of Cerebras Systems in a report on Monday. They issued an “outperform” rating and a $300.00 price objective on the stock. UBS Group began coverage on shares of Cerebras Systems in a report on Monday. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, Zacks Research raised shares of Cerebras Systems to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $294.00.

Cerebras Systems Stock Performance

CBRS stock opened at $214.00 on Friday. Cerebras Systems has a 12 month low of $196.73 and a 12 month high of $386.34.

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.