Is Nebius stock a buy after the $108 initiation?

The new Buy and $108 target argues for about 16% upside from a recent $92.88 reference. We see potential if Q4 shows stronger bookings, better utilization, and clearer capex discipline. Valuation is rich on sales and book, so execution must tighten. For many, a partial position and post‑print add may balance risk and reward.

What are the top focus areas for the Nebius earnings preview?

Watch Q4 bookings tied to GPU capacity ramps, cluster utilization, and enterprise deal momentum. We also want updates on margin mix, pricing, and 2026 capex plans. Liquidity is strong, but free cash flow is negative, so a credible path to improved operating leverage could be the biggest driver of post‑earnings sentiment.

How does valuation look versus fundamentals right now?

TTM price‑to‑sales sits near 64.9x and price‑to‑book near 4.9x, which bakes in strong growth. Operating margin is negative and free cash flow is weak, while liquidity is solid. That mix can work if bookings accelerate and gross margin scales. Without improving unit economics, multiple compression is the main risk.

What technical levels matter into earnings?

We are watching the 50‑day average near 93, the Bollinger mid around 88.9, and the upper band near 102. A close above 96 to 98 could target 102, while pullbacks toward 86 to 88 may invite buyers if volume confirms. ATR near 6.8 suggests using tighter sizes and defined stops.

When is the Nebius Q4 earnings call and why does it matter?

The company is slated to report on February 12 at about 8:30 a.m. ET. Guidance on bookings, capacity, margins, and capex could reset the narrative. Strong demand signals and progress toward positive operating leverage would support the Buy thesis and the $108 target. Soft metrics could extend volatility and delay multiple expansion.

Global Market Insights

NBIS Stock Today, February 9: Buy Initiation at $108 PT Ahead of Q4

ByHuzaifa Zahoor February 10, 2026February 10, 2026

Nebius stock is drawing attention today after Freedom Capital started coverage with a Buy rating and a $108 price target ahead of Q4 results on February 12. Nebius Group (NBIS) markets a vertically integrated AI cloud infrastructure stack, from GPU clusters to developer tools. With earnings near, U.S. investors are weighing bookings, margins, and capital needs against a recent pullback and mixed fundamentals. Below, we map the catalysts, technical setup, and valuation context to frame expectations into the print.