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Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

Cerebras Systems / Equity Capital Markets

<ul>
<li>Cerebras Systems has successfully closed its blockbuster IPO of 34.5M Class A shares at $185.00 per share, above the marketed price range.</li>
<li>The AI company raised the price range to $150.00-$160.00 and sold a total of 34.5M shares, up from the initial target. Cerebras’ stock soared 100%+ during the first trading day. </li>
<li>I think Cerebras Systems stock has reached a level that is too high to justify a BUY rating. I see limited near-term upside even in an upside growth scenario. </li>
</ul>


Cerebras Systems has successfully closed its blockbuster IPO of 34.5M Class A shares at $185.00 per share, above the marketed price range.
The AI company raised the price range to $150.00-$160.00 and sold a total of 34.5M shares, up from the initial target. Cerebras’ stock soared 100%+ during the first trading day. 
I think Cerebras Systems stock has reached a level that is too high to justify a BUY rating. I see limited near-term upside even in an upside growth scenario. 


Cerebras Systems IPO Trading Update: Over-Heated Post-IPO Valuation, Limited Near-Term Upside