Nebius Stock Price Forecast — What Wall Street Expects Ahead of August 12 Earnings

Nebius Group (NASDAQ:NBIS) heads into second-quarter earnings before the market opens on Wednesday, August 12, with NBIS shares coming off a volatile few months. NBIS has dropped about 36% from its June high, yet shares remain up around 120% for the year, making Wednesday’s report particularly important for where the stock goes next. Investors will be hoping for the better outcome, especially after Nebius’ previous earnings report sent shares nearly 16% higher in a single session.

Wall Street expects Nebius to report second-quarter revenue of $574.65 million, representing a 447% increase from the $105.1 million generated during the second quarter of last year. Analysts are looking for non-GAAP earnings of $0.70 per share, while the GAAP consensus calls for a loss of $0.86 per share.

Nebius has maintained its 2026 revenue outlook of $3.0 billion to $3.4 billion while targeting annualized run-rate revenue between $7 billion and $9 billion by year-end. CEO Arkady Volozh has argued that the demand needed to support that growth is already there, saying demand for computing resources remained well beyond available capacity as businesses moved from experimenting with artificial intelligence toward deploying it in real-world applications.

That demand helps explain why Nebius has been spending heavily on additional computing capacity. In May, the company announced plans for a Pennsylvania AI factory where it has secured up to 1.2 GW of power and land, bringing its targeted contracted power for 2026 above 4 GW. Nebius is developing another potential 1.2-GW campus in Independence, Missouri, while its new 310-MW facility in Finland is expected to begin serving customers during 2027.

Infrastructure is only part of what investors have to watch over the coming quarters. Nebius completed its acquisition of inference specialist Eigen AI in June, with the technology expected to strengthen its Token Factory platform. The company is bringing Clarifai’s core engineering team and inference technology into that platform as well, giving Nebius another avenue for expanding beyond the computing infrastructure that currently drives most of its growth.

Against that backdrop, Wednesday’s report should offer investors a clearer look at whether Nebius remains on course for its aggressive 2026 targets. Another revenue beat and encouraging guidance could go a long way after the stock’s 36% retreat from its June peak, particularly with several large capacity projects still ahead.

As a whole, Wall Street remains bullish on where NBIS goes from here. The stock earns a Moderate Buy consensus rating based on 7 Buys and 4 Holds, while the $241 average price target suggests shares could climb 31% from current levels. (See NBIS stock forecast)