Ahead of Nebius Earnings, Here's What Barchart Data Says Comes Next for NBIS Stock

Nebius (NBIS) shares remain in focus ahead of the artificial intelligence (AI) infrastructure firm’s Q3 earnings, which are scheduled to be released before the market opens on Nov. 12. Consensus is for NBIS to report -$0.61 in earnings per share (EPS) for its third financial quarter, representing a 56% deterioration on a year-over-year basis. 

Heading into the quarterly print, Nebius stock is trading at less than half its price in mid-August. 

Where Options Data Suggests Nebius Stock Is Headed

Barchart’s options data suggests traders are unlikely to overlook Nebius’s widening losses. The put-to-call ratio on contracts expiring Nov. 13 sits at 1.15x as of this writing. A reading above 1.00x is typically characterized as in favor of the bears. Meanwhile, the lower price on those contracts is set at $113, signaling potential for a nearly 15% decline in NBIS shares within days after reporting the quarterly results. 

Investors are advised to exercise caution in playing Nebius also because it’s currently trading at a price-to-sales (P/S) multiple of about 62x, indicating it’s not an inexpensive name to own heading into 2027. 

What’s Hurting NBIS Shares Sentiment Ahead of Q3 Print?

Nebius’s relationship with key hyperscale customers, especially Microsoft (MSFT), is hurting sentiment as well. Recent reports suggest the tech behemoth may not renew current agreements in an attempt to scale back its neocloud partnerships. Such a development would be detrimental for Nebius given that Microsoft is one of its largest clients. 

Without the expected Microsoft-driven revenue, it would be even more difficult to justify Nebius shares’ premium valuation multiple. 

Even from a technical perspective, NBIS looks poised for continued downside ahead. The AI stock currently sits below its major moving averages (MAs), with an RSI in the late 30s signaling intense selling pressure that could drive it lower in the weeks ahead. 

What Analysts Expect From Nebius Moving Forward

On the flip side, Wall Street analysts remain convinced that the selloff in NBIS stock this year has gone a bit too far. 

According to Barchart, the consensus rating on Nebius sits at “Moderate Buy,” with the mean price target of about $285 indicating potential for a more than 2x rally over the next 12 months.  

On the date of publication, Wajeeh Khan did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.