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Following its Q1 earnings, Compass Point analyst Michael Donovan raised his price target on Nebius stock to $260 from $150 while maintaining a Buy rating. The analyst pointed to strong Q1 growth, with total revenue rising to $399 million, driven mainly by the company’s AI Cloud business.

Donovan also highlighted sharp growth in annual recurring revenue, improving EBITDA margins, and a much stronger cash position, which he believes gives the company more flexibility to expand AI infrastructure. The analyst added that customer demand and prepayments continue supporting Nebius’ long-term AI growth outlook.

Citizens raised its price target on Nebius Group (NASDAQ:NBIS) to $270 from $175 while maintaining a Market Outperform rating.