Cerebras Systems Inc. (NASDAQ:CBRS) posted upbeat first-quarter results after Tuesday’s closing bell.Cerebras Systems reported quarterly losses of four cents per share, which beat the analyst estimate for a loss of 16 cents, according to Benzinga Pro data. Quarterly revenue clocked in at $193.41 million, which beat the Street estimate of $181.59 million by 6.5%."This was an outstanding start to 2026 for Cerebras. And we are proud of our achievements,” said Andrew Feldman, Cerebras CEO.Cerebras System expects fiscal year core revenue of $855 million to $865 million, up 69% year-over-year at the midpoint and core gross margin in the range of 38% to 41%.Cerebras Systems shares dipped 16.7% to trade at $188.73 on Wednesday.These analysts made changes to their price targets on Cerebras Systems following earnings announcement.
Morgan Stanley analyst Joseph Moore maintained the stock with an Overweight rating and raised the price target from $250 to $273.
Wedbush analyst Matt Bryson maintained the stock with an Outperform rating and raised the price target from $270 to $280.
