Nebius: The Hype Overwhelms Sobriety (Upgrade)

**Nebius: The Hype Overwhelms Sobriety (Upgrade)**
*Nov. 07, 2025 | 10:14 AM ET*

**Nebius Group N.V. (NBIS) Stock Analysis**

Nebius Group N.V. has surged over 100% since July, but this rally is not supported by improved fundamentals or profitability outlook. Despite a 30% increase in revenue estimates, NBIS’s EPS forecasts have declined, raising concerns about its business model and valuation.

NBIS stock’s forward price-to-sales (P/S) ratio has soared to 51, making the current $27 billion market cap appear unjustified by near-term growth potential.

We are upgrading NBIS stock to **Hold**, driven primarily by persistent AI hype, CEO-centric sentiment, and potential Federal Reserve rate cuts, which may sustain elevated valuations through 2025.

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I believe the 100%+ rally of Nebius Group N.V. (NBIS) since mid-July — when I shared my bearish take — was triggered by factors other than fundamentals. This observation is not merely stubbornness but based on careful analysis.

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### About the Author

With a decade at a Big 4 audit firm specializing in banking, mining, and energy sectors, I bring a strong foundation in finance and strategy. Currently, I serve as the Head of Finance for a leading owner and operator of retail real estate, where I oversee complex financial operations and strategy.

I have been an active investor in the U.S. stock market for 13 years, starting with my very first paycheck. Over time, my portfolio has evolved to reflect a balanced approach, with a growing focus on value stocks while maintaining solid exposure to growth opportunities.

My investment philosophy is rooted in thorough research and a long-term perspective, which has helped me navigate various market cycles successfully. I aim to bring value to Seeking Alpha readers by uncovering promising under-the-radar stocks that may not yet be on the broader market’s radar.

My background in auditing and finance, combined with years of hands-on investing experience, allows me to provide unique insights and actionable ideas for fellow investors.

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### Analyst’s Disclosure

I/we have no stock, option, or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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### Seeking Alpha’s Disclosure

Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole.

Seeking Alpha is not a licensed securities dealer, broker, U.S. investment adviser, or investment bank. Our analysts are third-party authors that include both professional and individual investors who may not be licensed or certified by any institute or regulatory body.

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