Needham & Company LLC Begins Coverage on Cerebras Systems (NASDAQ:CBRS)

Analysts at Needham & Company LLC initiated coverage on shares of Cerebras Systems (NASDAQ:CBRS) in a research note issued on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $300.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 49.25% from the stock’s previous close.

Several other equities research analysts also recently commented on CBRS. Wall Street Zen upgraded Cerebras Systems from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. Barclays started coverage on Cerebras Systems in a report on Monday. They set an “overweight” rating and a $280.00 price objective on the stock. UBS Group started coverage on Cerebras Systems in a report on Monday. They set a “buy” rating and a $300.00 price objective on the stock. Finally, Morgan Stanley started coverage on Cerebras Systems in a report on Monday. They set an “overweight” rating and a $250.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Cerebras Systems has a consensus rating of “Buy” and a consensus price target of $286.00.

Cerebras Systems Stock Performance

Shares of NASDAQ:CBRS opened at $201.01 on Monday. Cerebras Systems has a one year low of $196.73 and a one year 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.