Cerebras Systems

CBRS · NASDAQ

$118.24−$2.50 (−2.07%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $120.74

CBRS analyst rating

BuyConsensus of 11 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy11
Hold0
Underperform0
Sell0

12-month price target · 14 analysts

Average $297.47 (+151.6% upside)

Low: $211.09
Now: $118.24
High: $346.50

Upgrades and downgrades

The latest rating actions, newest first

CBRS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
TD Cowen	Oct 19, 2026	Maintains	Buy	$275.00 → $175.00	39%
Freedom Capital Markets	Oct 2, 2026	Upgrade	Hold → Buy	$209.00	0%
Freedom Capital Markets	Sep 14, 2026	Maintains	Hold	$209.00	0%
Rosenblatt	Aug 19, 2026	Maintains	Buy	$300.00	53%
Needham	Aug 19, 2026	Maintains	Buy	$300.00	44%
UBS	Aug 13, 2026	Maintains	Buy	$320.00 → $330.00	69%
Citigroup	Aug 13, 2026	Maintains	Buy	$340.00 → $320.00	71%
Wedbush	Aug 13, 2026	Maintains	Outperform	$280.00 → $290.00	72%
Mizuho	Aug 13, 2026	Maintains	Outperform	$310.00 → $300.00	59%
Rosenblatt	Aug 13, 2026	Maintains	Buy	$300.00	53%

The case for and against

Updated Oct 14, 2026

Bull case

Cerebras Systems is favored because the company appears positioned to capitalize on AI demand that is still outpacing supply, with Street estimates calling for revenue to rise from $887M this year to $2.95B in 2027. Its CS-4 launch strengthens the investment case, as the new WSE-3T system is claimed to deliver up to 30x faster inference, 10x better throughput per watt, and two-microsecond rack-to-rack latency, which should improve customer economics and pricing power. The bullish view also rests on marquee relationships with OpenAI, AMD, AWS, Figma, Cognition, and CrowdStrike, while acknowledging execution risk around capacity additions and scaling on time and on budget.

Bear case

Cerebras Systems is viewed negatively because its customer concentration is extreme, with OpenAI accounting for the bulk of its $25B RPO, so any partner shift quickly undermines revenue visibility and investor confidence. The recent news that OpenAI is using NVIDIA GPUs for the “Ultrafast” version of GPT-1 Sol, alongside CBRS shares plunging -17%, highlights both competitive pressure from titans like NVIDIA and the risk that its expensive WSE-based systems may struggle to win broad adoption. Since its May 2026 IPO, execution has also been inconsistent, with stock crashes after each of its first two reported quarters and added distraction from building hardware systems while launching its own neocloud.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.