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.

Considering buying CBRS stock? Here’s what analysts think:

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