Nebius Group (NASDAQ:NBIS) Trading Up 8.7% After Analyst Upgrade

Nebius Group N.V. (NASDAQ:NBIS) shares were up 8.7% 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 $51.25 and last traded at $51.24. Approximately 6,416,287 shares traded hands during trading, a decline of 43% from the average daily volume of 11,192,272 shares. The stock had previously closed at $47.13.

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

Institutional Trading of Nebius Group

Institutional investors and hedge funds have recently modified their holdings of the business. SeaCrest Wealth Management LLC acquired a new stake in shares of Nebius Group in the 1st quarter worth about $453,000. Compagnie Lombard Odier SCmA bought a new position in Nebius Group in the 1st quarter valued at about $1,196,000. Centaurus Financial Inc. bought a new position in Nebius Group in the 4th quarter valued at about $9,505,000. SG Americas Securities LLC bought a new position in Nebius Group in the 1st quarter valued at about $3,415,000. Finally, West Oak Capital LLC bought a new position 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 Trading Up 7.1%

The company’s 50-day moving average price is $32.73 and its two-hundred day moving average price is $31.85. The company has a market cap of $11.90 billion, a P/E ratio of -88.53 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.