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CBRS·Cerebras Systems, Inc.

$141.49
-7.60 (-5.10%)
After Hours
High
$149.68
Open
$143.71
Market Cap
33.37B
52W High
$386.34
Low
$139.64
P. Close
$141.49
P/E
140.32
52W Low
$142.07
Fwd P/E
117.05
DailyIQ Est.
$304.07
Inst. Ownership
17.5%
Short Interest
6.23%
Days to Cover
2.1
NewEarnings release, scored · filed Aug 12, 2026Guidance raised · tone +12.7 vs prior release · 51 lines scoredSee the breakdown
Technical Score (1D)
50
NEUTRAL
News Sentiment
46
MIXED
On Oct 13, Cerebras Systems (CBRS) reported a $25.4 billion backlog of contracted future revenue, underscoring its capacity to generate high‑margin growth through AI processors and cloud services. The same day, the company announced that its revenue had tripled over the past two years, driven by the launch of a new rack‑scale accelerator and new colocation agreements in Minnesota and Finland. Analysts noted that the backlog was largely tied to a multi‑year OpenAI deal, but OpenAI’s decision to use NVIDIA for its GPT‑6.1 Sol’s fastest mode had directly challenged Cerebras’ speed‑inference advantage and raised concerns about the future of that contract. The market reaction reflected a confirmed, material loss of confidence in Cerebras’ business model and future prospects, as the stock fell 53 % from its first‑day close and dropped below its $185 IPO price. Despite the share price pressure, the backlog remains a solid indicator of future earnings momentum, with high‑profile customers such as OpenAI, Block, and Figma continuing to drive demand for the company’s rapid inference technology.
LOW TARGET
$209 +47.7%
1 analysts
MEAN TARGET
$292 +106.1%
12 analysts
HIGH TARGET
$330 +133.3%
7 analysts
PRICE RANGE
$209.00 - $330.00
SB / B / H / S / SS
4/11/3/1/1
DAILYIQ EST.
$304.07 (+114.9%)
Bought (1Y)
0 shares
$0
Sold (1Y)
1,196,055 shares
$244.7M
Vishria Eric-
J59,126 shares2026-10-05
Feldman Andrew D.CEO, President
J159 shares2026-10-05
Susan Lior-
J63,056 shares2026-09-30
Susan Lior-
J68,428 shares2026-09-30
Susan Lior-
J1,198,489 shares2026-09-30
View full insider trading history →

EPS

EstBeatMiss
$-0.17$-0.13$-0.10$-0.06$-0.02Q1'26Q2'26
QtrEstActual+/−
Q2'26$-0.14 - -
Q1'26$-0.15$-0.04+74.0%

Revenue

EstBeatMiss
$190M$197M$204M$211M$218MQ1'26Q2'26
QtrEstActual+/−
Q2'26$215M - -
Q1'26 - $193M -
Full Earnings BreakdownEstimates, actuals, guidance, and historical context
→

Market Data

CBRS Stock Snapshot

NEUTRAL50/100
$140.12−$1.37 (1.0%)
Market cap
33.37B
P/E ratio
140.3
Day range
$139.64 – $149.68
News sentiment
46/100 · Neutral
Analyst target
$291.64 (+108.1%)
Consensus
Buy · 20 analysts
52-week range-1.4% off low · -63.7% from high
$142.07$386.34
Price $140.12 DailyIQ Est. $304.07

The technical read on CBRS is balanced, which usually means the market is waiting on a catalyst. Earnings and guidance carry more weight than macro data at this capitalisation.

Sector Rotation

Is money rotating into or out of CBRS's sector?

Cerebras Systems, Inc. sits in the Semiconductors sector, currently ranked 1st of 12 GICS sectors by relative-strength rotation score (weakening). Within its narrower Semiconductors industry group, CBRS ranks 1st of 15 tracked industries, weakening.

Sector rank
#1 of 12
Sector state
Weakening
Sector rotation score
0
Industry rank
#1 of 15

Options Market

What is the options market pricing for CBRS?

CallsPuts

For Cerebras Systems, Inc.'s nearest expiry (2026-10-16, 2 days out), open interest is put-heavy, a defensive/bearish tilt (put/call ratio of 1.79), with at-the-money implied volatility around 79.2%. The options market is pricing roughly a ±5.4% move by that expiry — a range of about $141.34–$157.56.

Put/call ratio (2026-10-16)
1.79
ATM implied volatility
79.2%
Total open interest
79,519
Expected move by 2026-10-16
±5.4% ($141.34–$157.56)

Analyst Rating Changes

Are analysts turning bullish or bearish on CBRS?

Freedom Capital Markets most recently upgraded Cerebras Systems, Inc. to Buy on Oct 2, 2026 with a price target of $209. Over the last 90 days, coverage has run 1 upgrade against 0 downgrades, a net bullish lean.

Latest action
Freedom Capital Markets — Buy
90-day upgrades
1
90-day downgrades
0
Net rating momentum
+1
DateFirmActionRatingPrice target
Oct 2, 2026Freedom Capital MarketsUpgradeHold → Buy$209
Sep 14, 2026Freedom Capital MarketsMaintainedHold$209
Aug 19, 2026RosenblattMaintainedBuy$300
Aug 19, 2026NeedhamReiteratedBuy$300
Aug 13, 2026UBSMaintainedBuy$320 → $330
Aug 13, 2026CitigroupMaintainedBuy$340 → $320
Aug 13, 2026WedbushMaintainedOutperform$280 → $290
Aug 13, 2026MizuhoMaintainedOutperform$310 → $300
Aug 13, 2026RosenblattMaintainedBuy$300
Aug 13, 2026Morgan StanleyMaintainedOverweight$273 → $279
Aug 13, 2026NeedhamReiteratedBuy$300
Jul 27, 2026MizuhoMaintainedOutperform$300 → $310

Earnings Release, Scored

What did Cerebras Systems, Inc.'s latest earnings release say?

Filed Aug 12, 2026 · SEC Form 8-K, Exhibit 99

Guidance raised
Tone76.1/ 100+12.7 vs prior release
Hedging words0.46per 100 words+0.31 vs prior release
Tone, last 2 releasesScale 50–82

Most important lines

  1. 1

    GAAP operating margin of (265%); Core operating margin of (16%), an improvement of approximately 2,600 basis points from Q2’25.

    New this quarter
  2. 2

    GAAP cloud revenue grew 281%, core cloud revenue grew 287% from a year ago

    New this quarter
  3. 3

    GAAP gross margin of 14%; Core gross margin of 41%, an improvement of approximately 940 basis points from Q2’25.

    New this quarter

Scores describe the release's wording. They are not a forecast.

Read all 51 scored lines →

ETF holders

ETFs holding CBRS

Top ETF holdersWeight

News Sentiment Analysis

Sentiment gathered from recent headlines

46/100
Strong NegativeNeutralStrong Positive
MIXED

Recent News Coverage

Most recent articles, ranked by recency (click to expand).

10+ articles
What did this article say?
Cerebras Systems (CBRS) fell 53% from its first‑day close, dropping below its $185 IPO price. The decline was driven by OpenAI’s decision to use NVIDIA for its GPT‑6.1 Sol’s fastest mode, directly challenging Cerebras’ speed‑inference advantage. Analysts noted that the company’s 25.4 B$ in remaining performance obligations, largely tied to a multi‑year OpenAI deal, was now at risk. The market reaction reflected a confirmed, material loss of confidence in Cerebras’ business model and future prospects.
What did this article say?
Cerebras Systems (CBRS) reported a tripling of revenue over the past two years, driven by the launch of a new rack‑scale accelerator and new colocation agreements in Minnesota and Finland. The company’s focus on AI compute platforms for data centers underpins this growth. In contrast, SoundHound AI experienced modest revenue increases, highlighted by its acquisition of LivePerson and a new embedded voice AI platform. The widening revenue gap suggests divergent market trajectories for the two AI firms.
What did this article say?
Cerebras Systems reported a $25.4 billion backlog of contracted revenue, yet its shares fell to a post‑IPO low on October 13. The decline was driven by concerns over Nvidia’s competitive pressure and the first wave of insider shares exiting lockup. Management highlighted the company’s dual revenue model—hardware sales and cloud‑based compute rentals—while emphasizing inference speed as a key differentiator. The market reaction suggested uncertainty about whether the backlog translates into sustainable high‑margin growth. Overall, the news introduced a mild headwind for the company’s valuation prospects.
What did this article say?
The article compares Cerebras Systems (NASDAQ:CBRS) and BigBear.ai as potential AI investments for 2026. It outlines Cerebras’ focus on wafer‑scale processors powering generative AI and BigBear.ai’s decision‑intelligence software for government agencies. The piece highlights the differing risk profiles, noting CBRS’s exposure to the broader semiconductor market versus BigBear.ai’s concentration on defense customers. No recent earnings or guidance changes are reported, so the comparison remains a neutral assessment of strategic positioning.
What did this article say?
Cerebras Systems (CBRS) announced plans to achieve a 20‑fold throughput improvement by 2027, driven by its CS‑4 chip. The company reported a $25.4 billion in revenue‑promised orders, though customer concentration and pass‑through costs temper the economic upside. Gross margin reached 40.6% in Q2, with management targeting over 60% as lower‑cost infrastructure comes online. Consensus forecasts 2028 revenue of $7.54 billion and EPS of $6.15, suggesting a significant valuation compression. Analysts view the outlook as a strong buy for CBRS investors.
What did this article say?
Cerebras Systems reported robust demand for its wafer‑scale AI chips, citing new partnerships with AWS and AMD. The company’s valuation appeared stretched, yet the partnerships signal continued growth prospects for its AI inference solutions. The article highlighted the positive market reception and potential upside for CBRS shares.
What did this article say?
The article compared Cerebras Systems (CBRS) and IonQ, highlighting Cerebras’ wafer‑scale AI processors and IonQ’s quantum systems. It noted Cerebras’ strong cash position and diversified AI traction, while IonQ faced competitive pressures and a falling stock. The comparison framed both companies as high‑stakes bets on specialized hardware, with no clear material catalyst for either side. The piece offered a balanced view of the two firms’ strategic positions and market prospects.
What did this article say?
On October 7, Cerebras Systems Inc. (CBRS) closed near $175, down 1.16%, below its $185 IPO price. Jim Cramer, on Mad Money, described the company as a "good company" but "too expensive," citing a 34.90% gross margin and a negative 264.97% operating margin. Revenue grew 74.30% in the most recent quarter, indicating demand, yet the high operating costs suggest the valuation is not justified. The commentary highlights a valuation mismatch and operational challenges that could weigh on the stock.
What did this article say?
Sam Altman publicly endorsed Cerebras Systems (CBRS) on October 8, prompting analysts to reassess the company’s upside potential. The endorsement came after the stock had struggled since its IPO, but the positive signal suggests a possible shift in investor sentiment. Analysts noted that the endorsement could attract new capital and improve market perception, potentially supporting a rebound in the share price. The commentary indicates a renewed confidence in the company’s AI chip business.
What did this article say?
Cerebras Systems (CBRS) has attracted institutional interest as a wafer‑scale chip alternative to GPUs, with a 74.3% year‑over‑year revenue increase and a $7.5 billion cash balance that offsets a $450 million quarterly net loss. Analysts maintain a Moderate Buy rating and a $300 price target, while ARK Invest and other institutional buyers are buying shares in anticipation of the November IPO lock‑up expiration. The company’s partnership with OpenAI and endorsements from hyperscale partners reinforce its positioning as a credible AI infrastructure competitor.

Technical Analysis

Real-time indicators across multiple timeframes

50
NEUTRAL
Momentum rank against about 1,000 stocks and ETFs for this timeframe.
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Institutional & Hedge Fund Ownership
25 tracked managers · $8.55B combined position · 25 adding, 0 trimming, 0 unchanged (latest 13F filings)
ManagerTrendShares Held% of Co.Position ValueFiled
FMR LLC (Fidelity)▲ New8,435,0953.72%$1.86B2026-08-13
Coatue Management LLC▲ New7,011,0283.10%$1.55B2026-08-14
Capital World Investors▲ New3,894,4581.72%$860.68M2026-08-12
Morgan Stanley▲ New3,224,2091.42%$712.55M2026-08-13
JPMorgan Chase & Co▲ New3,100,8061.37%$670.27M2026-08-12
Tiger Global Management LLC▲ New2,999,0001.32%$662.78M2026-08-14
BlackRock, Inc.▲ New2,075,1680.92%$458.61M2026-08-07
Citadel Advisors LLC▲ New1,248,1700.55%$275.85M2026-09-02
Balyasny Asset Management L.P.▲ New1,120,3560.49%$247.60M2026-08-14
Capital Research Global Investors▲ New883,0000.39%$195.14M2026-08-12
Wellington Management Group LLP▲ New881,6880.39%$194.85M2026-08-14
Norges Bank▲ New846,6360.37%$187.11M2026-08-12
Geode Capital Management, LLC▲ New399,6950.18%$88.38M2026-08-12
Davidson Kempner Capital Management LP▲ New339,2180.15%$74.97M2026-08-14
ExodusPoint Capital Management, LP▲ New292,2730.13%$64.59M2026-08-14
Temasek Holdings (Private) Ltd▲ New279,2000.12%$61.70M2026-08-07
Millennium Management LLC▲ New272,9170.12%$60.31M2026-08-14
D. E. Shaw & Co., Inc.▲ New220,3500.10%$48.70M2026-08-14
Blackstone Inc.▲ New220,0000.10%$48.62M2026-08-14
Invesco Ltd.▲ New211,2680.09%$46.69M2026-08-14
Verition Fund Management LLC▲ New175,0000.08%$38.67M2026-08-14
Suvretta Capital Management, LLC▲ New171,9000.08%$37.99M2026-08-14
Soros Fund Management LLC▲ New150,0000.07%$33.15M2026-08-14
D1 Capital Partners L.P.▲ New150,0000.07%$33.15M2026-08-14
Susquehanna International Group, LLP▲ New146,6180.06%$32.40M2026-08-14
Q2 2026 flow:38.75M sh bought ($8.55B)0 sh sold ($0)net +38.75M sh (+$8.55B)
View full institutional holdings history →

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