Nebius Group's stock has surged over 210% this year, driven by increased demand for its AI-optimized cloud computing services. Following the company's strong second-quarter results, which included an adjusted EBITDA of $236.2 million—significantly exceeding the $168.8 million expected—Bank of America has maintained a buy rating and increased its price target from $280 to $310.
This new target suggests a potential upside of nearly 20% from the stock's closing price prior to the announcement. Analyst Tal Liani highlighted Nebius' expanding cloud infrastructure and robust data center pipeline as key factors supporting its growth. The company also reaffirmed its full-year revenue guidance, which could enhance investor confidence.
Despite a 4% decline in premarket trading, the overall sentiment remains positive, with 13 out of 19 analysts recommending a buy or strong buy on the stock