Nebius Stock Has Fallen About 40% From Its Record. Here's Why I'm Still Waiting to Buy.

Impact · against what's priced in

The recent price decline in NBIS does not fundamentally change the outlook, as the market continues to struggle with the gap between current revenue growth and aggressive 2026 targets. The article reinforces the difficulty of hitting the $3.0-$3.4 billion revenue goal, but this execution risk is already central to the stock's valuation.

NBIS−0.10

Already priced in

The price assumes

The $33.6 billion in remaining performance obligations... will successfully convert into recognized revenue over the next five years.