Nebius Group slides 5.9% as investors keep digesting Q4 results and heavy spending outlook

Nebius Group N.V. (NBIS) is down 5.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is continued post-earnings repositioning after the company’s latest quarterly report highlighted rapid revenue growth alongside sizable losses and very heavy infrastructure investment needs. With NBIS valued like a high-beta AI infrastructure name, the stock can also swing sharply on shifts in risk appetite even without a single, new headline.

Details:

The company’s Q4 and full-year 2025 update showed Q4 revenue of $227.7 million, but results still reflected a large net loss from continuing operations in the quarter.

The report highlighted significant capital spending, including $2.06 billion of capital expenditures in Q4 (and multi-billion annual capex), which can raise concerns about funding requirements and near-term cash burn.

Nebius ended 2025 with a sizable cash balance, but investors often debate how quickly that cash can be converted into profitable growth given the pace of expansion.

This could also be a valuation-driven pullback as traders take profits or reduce exposure to volatile AI infrastructure shares after a strong prior run.

Sources:

Nebius Group, Nasdaq, MarketBeat

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$NBIS Hedge Fund Activity

We have seen 372 institutional investors add shares of $NBIS stock to their portfolio, and 321 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

ORBIS ALLAN GRAY LTD removed 9,461,185 shares (-73.9%) from their portfolio in Q4 2025, for an estimated $791,948,490
BLACKROCK, INC. added 9,407,534 shares (+39418.1%) to their portfolio in Q4 2025, for an estimated $787,457,633
JERICHO CAPITAL ASSET MANAGEMENT L.P. removed 4,607,497 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $385,670,536
SLATE PATH CAPITAL LP removed 3,937,200 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $442,029,444
STATE STREET CORP added 3,090,103 shares (+2391.3%) to their portfolio in Q4 2025, for an estimated $258,657,071
CAPITAL RESEARCH GLOBAL INVESTORS added 2,767,280 shares (+inf%) to their portfolio in Q4 2025, for an estimated $231,635,172
WELLS FARGO & COMPANY/MN removed 2,379,259 shares (-93.6%) from their portfolio in Q4 2025, for an estimated $199,155,874

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$NBIS Analyst Ratings

Wall Street analysts have issued reports on $NBIS in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citizens issued a "Market Outperform" rating on 11/19/2025
BWS Financial issued a "Buy" rating on 11/13/2025
CICC issued a "Outperform" rating on 11/11/2025
DA Davidson issued a "Buy" rating on 09/10/2025

To track analyst ratings and price targets for $NBIS, check out Quiver Quantitative's $NBIS forecast page.

$NBIS Price Targets

Multiple analysts have issued price targets for $NBIS recently. We have seen 8 analysts offer price targets for $NBIS in the last 6 months, with a median target of $146.5.

Here are some recent targets:

Michael Donovan from Compass Point set a target price of $150.0 on 02/18/2026
Hamed Khorsand from BWS Financial set a target price of $130.0 on 02/17/2026
Josh Baer from Morgan Stanley set a target price of $126.0 on 01/15/2026
Greg Miller from Citizens set a target price of $175.0 on 11/19/2025
Alex Platt from DA Davidson set a target price of $150.0 on 11/12/2025
Nehal Chokshi from Northland Capital Markets set a target price of $211.0 on 11/12/2025
An analyst from CICC set a target price of $143.0 on 11/11/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.