On August 5, NEBIUS fell 3.03% in pre-market trading, trading at $219.01/share, with turnover of $93.73 million. The decline comes after the stock had surged over 16% cumulatively in the prior two sessions.
On the news front, Citi lowered its target price on NEBIUS from $287 to $278, while Piper Sandler initiated coverage with a Neutral rating and a $224 price target, citing short-term uncertainty for the company. The consensus analyst average target price stands at approximately $267.88. Additionally, NEBIUS is scheduled to report earnings on August 12, with market expectations of approximately 374% year-over-year revenue growth but an anticipated EPS loss of -$0.67, reflecting ongoing profitability headwinds despite rapid top-line expansion. The combination of a target price cut, cautious initiation, and pre-earnings uncertainty weighed on the stock following its recent sharp rally.
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