Nebius Group downgraded to Hold, following 120% rally and valuation concerns

Analysts downgraded Nebius Group N.V. (NASDAQ:NBIS) to a Hold rating. This shift follows a 120% rally in the company's stock price.

The downgrade stems from a stretched valuation compared to competitor CoreWeave. The recent price surge reportedly outpaced the company's fundamental financial performance and near-term growth prospects.