NBIS Jumps Premarket As Strong Q2 Fuels Best Weekly Move Since 2024: Analysts Praise ‘Backlog-Fueled Capacity Expansion’

• NBIS stock rose 48% last week.
• Nebius is part of a group of emerging cloud providers that have attracted investor interest of late; the firm’s revenue surged 454% last quarter.
• Stocktwits sentiment for NBIS was ‘extremely bullish.’

Nebius Group was among the top five trending stocks on Stocktwits early Monday, as investors digested its upbeat quarterly report and a wave of analyst price-target increases that helped fuel its best weekly rally since December 2024.

NBIS stock was up 1.3% in early premarket trading, extending a 48% rally in the past week. 

Several analysts posted upbeat commentary following the neocloud operator’s report last Wednesday, while retail traders speculated that a short squeeze may have contributed to the stock’s exceptional gains. A short squeeze happens when short sellers rush to buy back a stock as its price rises, further driving the price higher.

Citi raised the firm's price target on Nebius to $324 from $278, while keeping a ‘Buy’ rating on shares. The research firm upped the company's estimates and said Nebius was seeing backlog strength to support capacity buildouts.

Nebius is part of a group of emerging cloud providers that have attracted investor interest of late. The Amsterdam, Netherlands-headquartered company has been on an expansion spree since it bagged a major contract from Microsoft last September.

In March, Nebius announced a $27 billion contract win with Meta Platforms and a $2 billion investment from Nvidia. Nebius stock has gained 176% in the last 12 months.

Meanwhile, Bank of America raised its price target on NBIS to $310 from $280 and Baird raised the target to $340 from $250. BofA analysts said Nebius maintained its target of 800MW-1GW of connected power by year-end 2026, then fine-tuned its estimates to reflect stronger unit economics and raised revenue estimates.

NBIS: Investor Moves 

Based on the latest Q2 13F filings reported over the past few days, Jennison Associates was one of the biggest buyers of Nebius, adding 2.28 million shares, or 134.3%, to 3.98 million shares. 

BlackRock also increased its position by 1.59 million shares (16%), while Janney Montgomery Scott cut its stake by 67.2%, selling 41,677 shares. 

Retail View On NBIS

On Stocktwits, the retail sentiment for NBIS has held up in the ‘extremely bullish’ zone since the company’s earnings report last week.

“$MU $NBIS $SNDK $SOXX If you don’t see the plateau and not a bubble you’re just plain blind. But even IF you believe in a bubble, that’s a loooong way off bro. It’s literally still in the womb,” a trader wrote.

Another said: “$NBIS up 40% in a week is wild. They’re just trying to squeeze out Michael Burry for the short term and they will probably do it.”

Nebius Q2 Recap

Nebius posted $582 million in revenue, up 454% from the prior year and comfortably ahead of Wall Street’s call for $570 million. Revenue tied to the company’s core AI cloud business increased sixfold to $575 million.

The company reported a loss of $0.68 per share in Q2, compared to earnings per share (EPS) of $2.05 during the same period a year ago.

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