Bank of America Is Betting That Nebius Stock Still Has 30% Upside Potential. Should You Buy It Here?

Nebius still trades at very high valuations compared with most cloud companies. Even after pulling back from late-2025 highs, the stock trades above 40× enterprise value to sales. The company generated about $530 million in 2025 revenue, while its enterprise value is around $22 billion. Its trailing price-to-sales ratio is close to 55×. Bank of America also noted that some valuation models suggest Nebius appears expensive relative to its estimated fair value. Investors buying the stock are now betting that ...