Wedbush raised its price target on Cerebras Systems (NASDAQ:CBRS) to $290 from $280. The firm maintained an "outperform" rating on the stock.
This revision occurred on August 13. It followed Cerebras's second-quarter financial results. The AI chipmaker reported a revenue miss for Q2. However, Cerebras increased its full-year 2026 revenue forecast.
Cerebras stock declined after the earnings release. This decline stemmed from high investor expectations. A Wedbush analyst noted the company's long-term growth potential remains strong.
Wedbush views Cerebras's upcoming "Supernova" event as a likely positive catalyst. The event expects to unveil a new chip.
Other analysts also adjusted targets. Morgan Stanley raised its target. Mizuho issued a slight reduction.