Nebius Group (NASDAQ:NBIS) Trading 8.1% Higher on Analyst Upgrade

Nebius Group N.V. (NASDAQ:NBIS) traded up 8.1% during mid-day trading on Monday after DA Davidson raised their price target on the stock from $50.00 to $55.00. DA Davidson currently has a buy rating on the stock. Nebius Group traded as high as $50.80 and last traded at $50.94. 5,683,455 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 11,188,538 shares. The stock had previously closed at $47.13.

Other research analysts also recently issued research reports about the company. Arete assumed coverage on Nebius Group in a report on Thursday, June 5th. They issued a “buy” rating and a $84.00 price target for the company. Northland Capmk raised shares of Nebius Group to a “strong-buy” rating in a research report on Tuesday, May 6th. Northland Securities set a $47.00 price target on shares of Nebius Group and gave the company an “outperform” rating in a report on Wednesday, May 21st. BWS Financial increased their price objective on shares of Nebius Group from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Finally, Arete Research raised shares of Nebius Group to a “strong-buy” rating in a research report on Thursday, June 5th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $66.50.

Institutional Trading of Nebius Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. SeaCrest Wealth Management LLC bought a new position in shares of Nebius Group during the first quarter valued at approximately $453,000. Compagnie Lombard Odier SCmA bought a new stake in Nebius Group in the first quarter valued at $1,196,000. Centaurus Financial Inc. acquired a new position in shares of Nebius Group during the fourth quarter valued at $9,505,000. SG Americas Securities LLC bought a new position in shares of Nebius Group during the first quarter worth about $3,415,000. Finally, West Oak Capital LLC bought a new stake in Nebius Group in the 1st quarter valued at about $501,000. 21.90% of the stock is owned by institutional investors and hedge funds.

Nebius Group Stock Performance

The business’s 50 day simple moving average is $32.12 and its 200-day simple moving average is $31.65. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of -89.62 and a beta of 3.25.

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.