Nebius falls as revenue forecast misses estimates

** AI cloud company Nebius NBIS.O down 11.6% at $136.70 premarket

** NBIS says FY 2026 revenue to be at the lower end of its $3.0 bln-$3.4 bln range, which also slightly misses analysts' est of $3.37 billion at the midpoint - data compiled by LSEG

** Co projects Q3 revenue of $981 mln, higher than analysts' average estimate of $907.5 mln

** NBIS expects to break even on a pre-tax basis by the end of 2027

** Rival CoreWeave CRWV.O on Tuesday raised its revenue forecast and said it was on track for adjusted profitability in H1 2028, sparking a rally in AI stocks

** NBIS lost over a third of its value last month amid AI and data center stock selloffs and concerns over neoclouds' debt

** NBIS says customer prepayments covered more than 100% of related Q3 capital spending

** Out of 24 brokerages covering the stock, 16 give it a "buy" or stronger rating and 8 "hold"; median PT at $300 - data compiled by LSEG

** As of last close, NBIS stock value up over 84% YTD