Nebius (NBIS) Stock: Five Things to Watch Before Thursday’s Q3 Report

TLDR

• Nebius (NBIS) trades at $141, down 54% from its $300 high.
• Q3 results arrive before the open on Nov. 12.
• Analysts expect $907 million in revenue and a $0.61 loss per share.
• Microsoft may scale back its neocloud deals.
• Options point to a drop toward $113, while analysts’ mean target is $285.

Nebius Group (NBIS) stock trades at $141 as Thursday’s Q3 report nears. That is 54% below its all-time high of $300.

Nebius Group N.V., NBIS

The company reports before the market opens on Nov. 12. Microsoft is the name traders most want to hear about.

Analysts expect revenue of $907 million, up 520% from a year ago, per Yahoo Finance. The highest estimate is $942 million.

Barchart’s consensus calls for a loss of $0.61 per share. That is 56% worse than the same quarter last year.

Guidance matters too. Analysts expect annual revenue near $3.35 billion, up 531%.

Next year’s forecast tops $12.2 billion. Meta Platforms and Microsoft are among its biggest customers.

The Microsoft Question

Reports say Microsoft is rethinking its use of neocloud firms because of high costs and project delays. Barchart notes it may not renew current agreements.

Nebius has not announced a major new contract with a large customer lately. Lambda, Nscale and Firmus have all landed big deals.

Bitcoin miners have also moved into AI. That makes the field more crowded.

Gartner has warned that neocloud firms could book large impairments in the next few years. It points to the gap between expected revenue and costs.

Prices for servers, GPUs and memory have also risen. The AI market is feeling pressure elsewhere, too.

Anthropic plans an IPO at a $1.3 trillion valuation, below the $2 trillion some expected. OpenAI raised $11 billion at $1.25 trillion, versus the $1.4 trillion analysts hoped for.

What Traders Are Pricing In

Nebius raised over $2 billion in Q2 and expects a similar raise in Q3. Outstanding stock now tops 238 million, up from 218 million last year.

Short interest sits at 20%. The price-to-sales ratio is about 62.

Options expiring Nov. 13 show a put-to-call ratio of 1.15. The low price mark of $113 implies a drop of nearly 15%.

NBIS sits below its major moving averages, and its RSI is in the late 30s. Analysts remain more upbeat, with a “Moderate Buy” rating and a mean target near $285.

Nebius reports before the open on Thursday, Nov. 12.

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