Nebius Group (NASDAQ:NBIS) shares are down during Monday’s premarket session. The company announced the closing of a private offering of convertible senior notes.

This move comes as the broader market experienced declines, with major indices like the S&P 500 and Nasdaq both showing negative performance.

Details

Nebius closed its offering of convertible senior notes which was announced last week. The offering includes $2.5875 billion in 1.250% notes due in 2031 and $1.75 billion in 2.625% notes due in 2033.

The company has earlier estimated net proceeds of about $3.96 billion after discounts, commissions, and offering expenses.

Nebius said that proceeds could rise to about $4.55 billion if the initial purchaser fully exercises its option to buy additional notes.

Management plans to use the proceeds to fund data center construction and build-outs, invest in its full-stack AI cloud, expand its data center footprint, and procure key components, including GPUs, alongside general corporate purposes.

Technical Analysis

The broader market experienced declines on Friday, with the S&P 500 falling 0.66% and the Nasdaq dropping 0.82%. Nebius’s decline came as the overall market faced pressure, indicating that the stock’s movement may be influenced by broader market trends rather than company-specific issues.

Currently, Nebius is trading 8.9% above its 20-day simple moving average (SMA) and 16.1% above its 100-day SMA, indicating a strong short-term trend. Over the past 12 months, shares have surged by 302.95%, and they are currently positioned closer to their 52-week highs than lows.

The RSI stands at 58.02, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, the MACD is at 6.5423, above its signal line at 4.4999, indicating bullish momentum.

The combination of neutral RSI and bullish MACD suggests mixed momentum, indicating that while the stock is showing some strength, it is not yet in overbought territory.

  • Key Resistance: $135.00
  • Key Support: $94.50

Earnings Snapshot

In February, Nebius reported an adjusted loss of 68 cents per share, beating the consensus estimate for a loss of $1.14 per share. The company posted revenue of $227.70 million, missing the consensus estimate of $246.04 million.

Management said it is on track to achieve annualized run-rate revenue of $7 billion to $9 billion by year-end 2026.

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $166.00. Recent analyst moves include:

  • DA Davidson: Buy (Raises Target to $200.00) (Mar. 16)
  • BWS Financial: Buy (Raises Target to $200.00) (Mar. 16)
  • Citigroup: Initiated with Buy (Target $169.00) (Mar. 16)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Nebius Group N.V. Class A Ordinary Shares, highlighting its strengths and weaknesses compared to the broader market:

  • Value: 2.82 — The stock is trading at a premium relative to peers.
  • Momentum: 98.64 — The stock is outperforming the broader market.

The Verdict: Nebius Group N.V. Class A Ordinary Shares’s Benzinga Edge signal reveals a momentum-driven story, indicating strong performance relative to the market, but its value rank suggests it may be trading at a premium. Investors should monitor upcoming earnings and market conditions closely.

NBIS Stock Price Activity: Nebius Group shares were down 3.34% at $113.69 during premarket trading on Monday, according to Benzinga Pro data.

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