Rosenblatt Securities initiated coverage of Nebius Group N.V. (NASDAQ: NBIS) with a Buy rating and a $304.00-per-share price target. The target represents a significant premium to the company’s recent trading price.
Nebius, based in the Netherlands, emerged from the restructuring of Yandex. It focuses on AI-centric cloud services and GPU compute capacity for developers and enterprises in Europe and the United States.
Nebius is currently unprofitable. Rosenblatt’s bullish outlook suggests confidence in the company’s future growth potential in the communication services sector. The initiation follows recent insider selling at the company.