Truist reiterates $355 target and Nebius launches $10 M European AI program
Truist analysts reaffirmed a Buy rating on Nebius Group and set a $355 price target, prompting a pre‑market rally of about 3‑4% on October 19. The company simultaneously announced a $10 million programme to support AI developers in Europe. Later that day Nebius reported Q2 revenue of $582.3 million, a 454% year‑over‑year increase, alongside an adjusted EBITDA of $236.2 million but a GAAP loss of $190.4 million.
Why it matters
Truist’s target implies the brokerage expects the stock to more than double from current levels, which could attract new buying pressure. The European AI initiative may broaden Nebius’s developer ecosystem and future revenue streams. The earnings release shows rapid top‑line growth but also a sizable GAAP loss, highlighting the need for investors to weigh growth against profitability.
Key facts
- 1Nebius shares rose 3.6% in pre‑market trading on October 19. investing.com
- 2Truist analysts set a $355 price target for Nebius. investing.com
- 3Nebius launched a $10 million programme for European AI developers. investing.com
- 4The stock had fallen roughly 21% over the prior week. finance.yahoo.com
- 5Nebius closed the previous session at $165.47. investing.com
- 6Q2 revenue was $582.3 million, up 454% year‑over‑year. gurufocus.com
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.