Shares of Nebius Group NV (NASDAQ:NBIS) rallied on Thursday after the company reported strong first-quarter results.
The results highlighted “continued demand signals across customer demographics,” while the company also raised its 2026 contracted power outlook from 3GW to 4GW, according to DA Davidson analyst Alexander Platt.
The Nebius Group Analyst: Platt maintained a Buy rating, while raising the price target from $200 to $250.
The Nebius Group Thesis: The company’s total revenue grew 684% year-on-year to $399 million, driven by “continued strength of the core business,” Platt said in the note.
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Nebius’ core business reached an annualized revenue run rate of $1.9 …