A Gartner forecast that over 80% of neocloud providers will cease independent operations by 2030 triggered a sharp sell-off in Nebius Group (NBIS), which now trades at $159.17, about 47% below its 52-week high of $299.86. The consensus target from 21 analysts is $283.60, while Northland Securities holds the Street-high target of $410.00. Last quarter revenue reached $582.3M, beating the $574.65M consensus, though the operating loss was $175.9M and three customers made up 24%, 21% and 14% of revenue. Management reaffirmed full-year revenue guidance of $3 billion to $3.4 billion and roughly 40% adjusted EBITDA margin, and CEO Arkady Volozh said Nebius could sell its entire 2027 capacity on current terms. The article flags dilution risks from $20.8B of convertible debt, $12.1B in upcoming lease obligations and ongoing share sales.
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