Nebius Group (NASDAQ: NBIS) reported substantial earnings on May 14, with revenue of $399 million, marking a 684% increase year over year. The company affirmed its 2026 revenue guidance of $3 billion to $3.4 billion and raised its contracted power outlook to over 4 gigawatts by year-end. Following the announcement, several analysts increased their price targets, including Citigroup’s raise from $169 to $287 and Citizens JMP’s raise to $270.
Despite these impressive results, the stock fell nearly 9% on Monday due to a downgrade from DA Davidson, which adjusted its rating from Buy to Neutral, citing valuation concerns after a substantial price surge. The stock is still up about 140% year to date, although it has retreated 15% from its recent all-time high. Analysts emphasize that the company’s underlying business momentum remains strong, noting partnerships with Meta, Microsoft, and NVIDIA, as well as a $46 billion backlog of committed contracts.
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