On June 5, NEBIUS declined 3.18% overnight, trading at $251.38/share, with trading volume of $1.4682 million.
On the news front, BNP Paribas initiated coverage of NEBIUS with a Neutral rating and a target price of $255. The analyst team, led by Stefan Slowinski, noted that the stock has surged over 210% year-to-date as a popular vehicle for investors betting on the AI compute shortage theme, and that the recent rally has significantly compressed future upside potential. Additionally, investment bank D.A. Davidson had previously issued a cautionary note on the stock. BNP Paribas simultaneously initiated coverage of competitor CoreWeave with an Outperform rating and a $192 target price.
The broader Systems Software sector also faced downward pressure, with Oracle down 1.8%, CrowdStrike down 1.54%, ServiceNow down 0.8%, Palo Alto Networks down 0.34%, and Microsoft down 0.24%, creating a sector-wide drag that amplified the pullback in NEBIUS shares.
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