Nebius Group Shares Plunge Following Lowered Guidance and Data Center Delays
Nebius Group (NBIS) shares experienced a significant sell-off, dropping as much as 15.3% following its third-quarter earnings report. While the company reported impressive year-over-year revenue growth of 571% to $981 million and narrowed its adjusted net loss to $38 million, investor sentiment was soured by a lowered Q4 guidance forecast. The downward revision stems from delays in bringing new data center capacity online at third-party partner sites and an announcement regarding increased capital expenditures. Consequently, several Wall Street analysts have slashed their price targets, including DA Davidson, which reduced its target from $250 to $125 due to the impact on annualized recurring revenue projections.
Tickers: $NBIS
Topics: analyst downgrades earnings report guidance reduction stock price volatility
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Part of the story Nebius Group Shares Plunge Following Lowered Guidance and Data Center Delays (3 articles)