CBRS
Post-earnings, the analysts came out swinging
Cerebras Systems had a rough morning on the tape, sliding 17.6% pre-market after reporting quarterly revenue of $180.11 million, which came up short of the $194.2 million Street was hoping for. Losses also came in at $2.98 per share, so this was not exactly the kind of print that sends traders sprinting for the champagne.
But Wall Street didn’t flip the table
Even with the miss, analysts mostly kept their basic stance intact and simply shuffled their numbers around like people rearranging chairs on a boat. Morgan Stanley kept an Overweight rating and nudged its target up from $273 to $279. Mizuho stayed at Outperform but trimmed its target from $310 to $300. Wedbush also held Outperform and lifted its target from $280 to $290.
What investors should care about
That split reaction is the whole story here. On one hand, Cerebras is still trying to sell the dream of explosive AI infrastructure growth — management said core revenue more than doubled and the cloud business nearly quadrupled year over year. On the other hand, the market is a skeptical roommate: it wants the growth story, but it also wants the numbers to line up.
Big picture: this isn’t a thesis killer, but it is a reminder that even the hottest AI names can get punished fast when the reported revenue misses the fantasy spreadsheet.