Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
CEREBRAS SYSTEMS INC (CBRS)
NASDAQInformation TechnologySemiconductorsSnapshot 2026-11-04
$81.71-11.04%
Close 2026-11-05 · 1-day change
NASDAQInformation TechnologySemiconductorsSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Oct 4, 2026.
Next-FY EPS estimate change · 30 days
1.24 → 1.24 EPS · FY ending Dec 31, 2027 · 6 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 6 to 6; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for CBRS yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
Three published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Core revenue growth must stay strong | A primary condition in CEREBRAS SYSTEMS INC's published investment case. The stated target is >=880 million. | Improving | Core revenue falls below $880 million this year | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 1 of 1 supplied quarters. Management reported: “• GAAP total revenue of $180.1 million, up 74% year-over-year; Core total revenue of $209.9 million, up 103% year-over-year.” ““We have made rapid progress in key areas required to deliver exceptional growth against our remaining performance obligations of $25.4 billion, and plan to more than triple revenue in 2027.”” |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Nov 12, 2026
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
This is a high-growth technology business with improving margins, but the evidence does not yet establish a durable compounder. The thesis is still insufficiently tested, and the risk label recently rose from moderate to elevated.
The evidence gives no valuation level or market-expectations estimate, so whether CBRS is cheap, fair, or expensive versus peers is unclear. Fragility indicators are low, but that does not resolve what the market already assumes.
Near term, core revenue and gross margin have improved, and full-year 2026 guidance for both was raised. Operating margin also improved sharply, though progress against that priority is rated mixed; recent earnings beats are positive, while the evidence notes a history of deep misses among the name and its peers.
The multi-year thesis hinges on continued core growth and margin improvement, especially progress toward the operating-margin goal. Near term, a guidance cut would be a meaningful negative; Fed rate cuts or stabilization among major technology peers could provide a more supportive backdrop.
Over the next 1 to 3 years, CBRS shows encouraging operating progress, but elevated risk and limited history make the thesis uncertain. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Gross margin must improve to target range | A supporting condition in CEREBRAS SYSTEMS INC's published investment case. The stated target is >=41%. | Under Pressure | Gross margin falls below 41% this year | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 1 of 1 supplied quarters. Management reported: “• GAAP gross margin of 14%; Core gross margin of 41%, an improvement of approximately 940 basis points from Q2’25.” “We significantly improved core gross and operating margins compared to a year ago,” said Bob Komin, Chief Financial Officer of Cerebras.” Delivery assessment Nov 4, 2026 |
Operating margin must improve toward target range | A supporting condition in CEREBRAS SYSTEMS INC's published investment case. The stated target is >=-19%. | Intact | Operating margin falls below -19% this year | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management contextStated in 1 of 1 supplied quarters. Management reported: “• GAAP operating margin of (265%); Core operating margin of (16%), an improvement of approximately 2,600 basis points from Q2’25.” “We significantly improved core gross and operating margins compared to a year ago,” said Bob Komin, Chief Financial Officer of Cerebras.” Delivery assessment Nov 4, 2026 |
Stored thesis · Oct 4, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$0.96 → $1.24 · observed estimates
$2.90B → $2.93B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-27 | $0.96 | $2,900,503,660 | 10 / 11 |
| 2026-07-28 | $0.96 | $2,900,503,660 | 10 / 11 |
| 2026-07-29 | $0.96 | $2,913,312,750 | 10 / 11 |
| 2026-07-30 | $0.96 | $2,913,312,750 | 10 / 11 |
| 2026-07-31 | $0.96 | $2,913,312,750 | 10 / 11 |
| 2026-08-01 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-02 | $0.96 | $2,913,312,750 | 10 / 11 |
| 2026-08-03 | $0.96 | $2,913,312,750 | 10 / 11 |
| 2026-08-04 | $0.96 | $2,913,312,750 | 10 / 11 |
| 2026-08-05 | $0.96 | $2,913,312,750 | 10 / 11 |
| 2026-08-06 | $0.96 | $2,913,312,750 | 10 / 11 |
| 2026-08-07 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-08 | $0.97 | $2,904,449,110 | 10 / 11 |
| 2026-08-09 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-10 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-11 | $0.97 | $2,904,449,110 | 10 / 11 |
| 2026-08-12 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-13 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-14 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-15 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-16 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-17 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-18 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-19 | $0.96 | $2,770,000,000 | 6 / 8 |
| 2026-08-20 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-21 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-22 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-23 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-24 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-25 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-26 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-27 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-28 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-29 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-30 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-08-31 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-01 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-02 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-03 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-04 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-05 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-06 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-07 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-08 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-09 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-10 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-11 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-12 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-13 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-14 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-15 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-16 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-17 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-18 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-19 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-20 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-21 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-22 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-23 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-24 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-25 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-26 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-27 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-28 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-29 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-09-30 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-01 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-02 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-03 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-04 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-05 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-06 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-07 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-08 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-09 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-10 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-11 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-12 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-13 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-14 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-15 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-16 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-17 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-18 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-19 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-20 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-21 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-22 | $1.24 | $2,850,000,000 | 6 / 8 |
| 2026-10-23 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-10-24 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-10-25 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-10-26 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-10-27 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-10-28 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-10-29 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-10-30 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-10-31 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-11-01 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-11-02 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-11-03 | $1.24 | $2,930,000,000 | 6 / 8 |
| 2026-11-04 | $1.24 | $2,930,000,000 | 6 / 8 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 11 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 2 recorded
Individual price-target observations are unavailable.
0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.