Nebius Group (NASDAQ:NBIS) Stock Price Down 4.4% – Here’s Why

Shares of Nebius Group N.V. (NASDAQ:NBIS) were down 4.4% during trading on Thursday . The stock traded as low as $33.41 and last traded at $34.40. Approximately 8,103,934 shares were traded during trading, a decline of 39% from the average daily volume of 13,363,909 shares. The stock had previously closed at $35.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BWS Financial boosted their target price on shares of Nebius Group from $51.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, February 21st. DA Davidson initiated coverage on shares of Nebius Group in a report on Tuesday. They set a “buy” rating and a $50.00 price objective on the stock.

Nebius Group Trading Down 10.9 %

The stock has a market capitalization of $7.55 billion, a PE ratio of -56.23 and a beta of 2.58. The business’s 50 day moving average is $34.70.

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.