Nebius Group (NASDAQ:NBIS) Trading 7.3% Higher on Analyst Upgrade

Nebius Group N.V. (NASDAQ:NBIS)’s share price traded up 7.3% on Tuesday after DA Davidson raised their price target on the stock from $35.00 to $45.00. DA Davidson currently has a buy rating on the stock. Nebius Group traded as high as $41.32 and last traded at $40.29. 17,080,424 shares traded hands during trading, an increase of 64% from the average session volume of 10,416,061 shares. The stock had previously closed at $37.56.

A number of other analysts also recently weighed in on NBIS. Northland Securities initiated coverage on shares of Nebius Group in a report on Tuesday, May 6th. They issued an “outperform” rating and a $34.00 target price on the stock. Northland Capmk raised Nebius Group to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, BWS Financial restated a “buy” rating and set a $60.00 price objective on shares of Nebius Group in a research report on Tuesday, March 4th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc purchased a new position in shares of Nebius Group during the 1st quarter worth about $25,000. First Horizon Advisors Inc. purchased a new position in shares of Nebius Group during the first quarter valued at approximately $33,000. Banque Cantonale Vaudoise purchased a new position in shares of Nebius Group during the first quarter valued at approximately $33,000. Manchester Capital Management LLC bought a new position in shares of Nebius Group during the first quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Nebius Group in the first quarter worth approximately $36,000. Institutional investors own 21.90% of the company’s stock.

Nebius Group Trading Up 7.3%

The stock has a 50 day moving average of $25.36 and a 200-day moving average of $28.71. The stock has a market capitalization of $9.50 billion, a P/E ratio of -70.68 and a beta of 3.11.

About Nebius Group

Nebius Group N.V., a technology company, builds intelligent products and services powered by machine learning and other technologies to help consumers and businesses navigate the online and offline world. The company’s services include Nebius AI, an AI-centric cloud platform that offers infrastructure and computing capability for AI deployment and machine-learning oriented solutions; and Toloka AI that offers generative AI (GenAI) solutions at every stage of the GenAI lifecycle, such as data annotation and generation, model training and fine-tuning, and quality assessment of large language model for accuracy and reliability.