Goldman Sachs Raises Nebius (NBIS) to Street-High $328 as Stock Snaps Back
TLDR
- Nebius stock surged 7.1% in pre-market trading after a six-session slide that wiped roughly 24% of its value
- The company’s convertible notes offering closed at $5.75 billion, topping its original $4.5 billion target
- Goldman Sachs raised its price target on NBIS to a street-high $328, maintaining its Buy rating
- All 16 resolutions passed at the August 25 AGM, including board re-appointments and share issuance authorities
- The broader neocloud sector is catching a bid ahead of IREN’s quarterly earnings report
Nebius Group stock jumped 7.1% in pre-market trading on Wednesday, recovering sharply after six straight sessions of losses that had cut about 24% from its value.
The selloff had been driven by investor nerves around the company’s debt raise. Those nerves faded fast once the numbers came in.
Nebius closed its convertible notes offering at $5.75 billion, well above the original $4.5 billion target. That gap tells you something about how much institutional appetite exists for Nebius paper right now.
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