Nebius Group (NASDAQ:NBIS) Stock Price Up 8% Following Analyst Upgrade

Nebius Group N.V. (NASDAQ:NBIS)’s stock price rose 8% during trading on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $75.96 and last traded at $74.29. Approximately 10,410,301 shares traded hands during trading, a decline of 19% from the average daily volume of 12,865,587 shares. The stock had previously closed at $68.78.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group assumed coverage on shares of Nebius Group in a report on Monday, July 14th. They set a “buy” rating and a $68.00 price target on the stock. Arete Research raised shares of Nebius Group to a “strong-buy” rating in a research note on Thursday, June 5th. DA Davidson lifted their target price on shares of Nebius Group from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. BWS Financial lifted their target price on shares of Nebius Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday. Finally, 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 target price for the company. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $70.80.

Hedge Funds Weigh In On Nebius Group

Several institutional investors have recently made changes to their positions in the stock. Orbis Allan Gray Ltd acquired a new position in shares of Nebius Group during the first quarter valued at about $331,474,000. Accel Leaders 4 Associates L.P. acquired a new position in shares of Nebius Group during the first quarter valued at about $96,704,000. Invesco Ltd. acquired a new position in shares of Nebius Group during the first quarter valued at about $73,782,000. Fred Alger Management LLC acquired a new position in shares of Nebius Group during the first quarter valued at about $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. acquired a new position in shares of Nebius Group during the first quarter valued at about $46,822,000. Institutional investors and hedge funds own 21.90% of the company’s stock.

Nebius Group Stock Up 2.1%

The firm’s fifty day moving average price is $51.21 and its two-hundred day moving average price is $37.49. The stock has a market cap of $16.56 billion, a price-to-earnings ratio of -123.23 and a beta of 3.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 14.70 and a quick ratio of 14.70.

Nebius Group (NASDAQ:NBIS) last posted its earnings results on Tuesday, May 20th. The company reported ($0.48) EPS for the quarter. The firm had revenue of $55.30 million for the quarter. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. The company’s revenue was up 385 on a year-over-year basis. Sell-side analysts forecast that Nebius Group N.V. will post -1.1 earnings per share for the current fiscal year.

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.