Movement Alert｜Cerebras Systems Pre-Market Rise 5.12%, Investment Banks Rally Behind Stock as Oversold Bounce Momentum Continues

Market Focus06-29

On June 29, Cerebras Systems rose 5.12% in pre-market trading, trading at approximately 190.53 USD/share, with turnover of 2.2873 million USD.

The stock continues its recovery after plunging over 25% following its first post-IPO earnings report, which guided Q2 core gross margins at just 36%-38%, well below NVIDIA levels, briefly pushing shares below the $185 IPO price. Multiple investment banks have since reiterated bullish stances. Morgan Stanley noted that with substantial signed order backlog and committed capacity agreements of up to 750MW, the company is well-positioned for growing AI inference demand. Wedbush raised its target to $280 while UBS lifted its target to $320, both maintaining buy-equivalent ratings.

Fundamentally, Q1 non-GAAP revenue of $193 million rose 92% year-over-year, beating estimates. The company also announced a multi-year agreement with OpenAI exceeding $20 billion and signed a data center deployment deal with AWS, providing further catalysts for the rebound.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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