Nebius Group (NASDAQ:NBIS) Trading Down 7% on Disappointing Earnings

Nebius Group N.V. (NASDAQ:NBIS) was down 7% on Tuesday following a dissappointing earnings announcement. The company traded as low as $66.77 and last traded at $67.44. Approximately 4,979,896 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 12,901,383 shares. The stock had previously closed at $72.54.

The company reported ($0.48) earnings per share (EPS) for the quarter. The firm had revenue of $55.30 million for the quarter. The company’s quarterly revenue was up 385 on a year-over-year basis. During the same period in the previous year, the firm earned ($0.25) earnings per share.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NBIS shares. Wall Street Zen cut shares of Nebius Group from a “hold” rating to a “sell” rating in a research note on Sunday. BWS Financial increased their price objective on shares of Nebius Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. DA Davidson increased their price objective 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. Arete Research raised shares of Nebius Group to a “strong-buy” rating in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Nebius Group in a research note on Monday, July 14th. They issued a “buy” rating and a $68.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, Nebius Group has a consensus rating of “Buy” and an average target price of $70.80.

Hedge Funds Weigh In On Nebius Group

Several institutional investors have recently bought and sold shares of NBIS. IFP Advisors Inc bought a new position in Nebius Group during the first quarter valued at $25,000. Signaturefd LLC lifted its position in Nebius Group by 125.0% during the second quarter. Signaturefd LLC now owns 450 shares of the company’s stock valued at $25,000 after purchasing an additional 250 shares during the last quarter. SJS Investment Consulting Inc. bought a new position in Nebius Group during the second quarter valued at $31,000. First Horizon Advisors Inc. bought a new position in Nebius Group during the first quarter valued at $33,000. Finally, Banque Cantonale Vaudoise bought a new position in Nebius Group during the first quarter valued at $33,000. Institutional investors own 21.90% of the company’s stock.

Nebius Group Stock Down 7.4%

The company has a debt-to-equity ratio of 0.31, a current ratio of 14.70 and a quick ratio of 14.70. The company’s 50-day simple moving average is $54.20 and its 200 day simple moving average is $39.15. The firm has a market cap of $15.84 billion, a P/E ratio of -117.88 and a beta of 3.36.

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.