Wall Street Zen downgraded Nebius Group (NASDAQ: NBIS) from "sell" to "strong sell" on Saturday.
The downgrade follows positive momentum, including rumored plans to acquire AI21 Labs. Cantor Fitzgerald also recently initiated bullish coverage of the firm.
Nebius recently reported a quarterly earnings per share loss of $0.69. This missed consensus estimates of a $0.42 loss. Quarterly revenue also fell short of analyst expectations.
The rating contrasts with recent stock surges to new highs. These gains followed major AI infrastructure deals and partnerships.