On June 3, NEBIUS declined 3.87% in regular trading, trading at $257.3/share, with trading volume of approximately $804 million. The stock came under pressure amid a broad sector selloff and a fresh analyst initiation signaling limited upside.

BNP Paribas initiated coverage on Nebius with a Neutral rating and a $255 target price, noting that the stock's year-to-date surge of over 210% has compressed further upside potential. The analyst team led by Stefan Slowinski highlighted that while Nebius remains a key play on the AI compute shortage theme, current expectations are largely priced in. Notably, the $255 target sits below the current trading price, reinforcing the view that valuation has become stretched. Prior to this, D.A. Davidson had also issued a cautious warning on the stock. Additionally, ongoing competitive concerns from the Google-Blackstone joint venture continue to pressure sentiment.

Within the Systems Software sector, broad weakness prevailed. Among major stocks, Microsoft fell 2.13%, Oracle fell 4.51%, ServiceNow fell 4.08%, Palo Alto Networks fell 5.07%, and CrowdStrike fell 2.08%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)