Nebius Group (NASDAQ:NBIS) Shares Up 7.3% Following Analyst Upgrade

Shares of Nebius Group N.V. (NASDAQ:NBIS) were up 7.3% during trading 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. Approximately 17,080,424 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 10,416,061 shares. The stock had previously closed at $37.56.

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

Institutional Investors Weigh In On Nebius Group

A number of hedge funds have recently bought and sold shares of NBIS. IFP Advisors Inc bought a new position in shares of Nebius Group in the first quarter worth about $25,000. Banque Cantonale Vaudoise bought a new stake in Nebius Group during the 1st quarter valued at approximately $33,000. First Horizon Advisors Inc. acquired a new stake in Nebius Group in the 1st quarter valued at approximately $33,000. Manchester Capital Management LLC bought a new position in Nebius Group in the 1st quarter worth approximately $34,000. Finally, Whipplewood Advisors LLC bought a new position in Nebius Group in the 1st quarter worth approximately $36,000. 21.90% of the stock is currently owned by institutional investors.

Nebius Group Price Performance

The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of -68.67 and a beta of 3.11. The business has a fifty day moving average price of $25.62 and a 200 day moving average price of $28.78.

Nebius Group Company Profile

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.