Nebius Group (NASDAQ:NBIS) Trading 1.6% Higher Following Analyst Upgrade

Nebius Group N.V. (NASDAQ:NBIS)’s stock price traded up 1.6% on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $70.28 and last traded at $70.09. 3,348,669 shares changed hands during trading, a decline of 74% from the average session volume of 12,858,785 shares. The stock had previously closed at $68.98.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group began coverage on Nebius Group in a research report on Monday, July 14th. They set a “buy” rating and a $68.00 price target for the company. BWS Financial increased their target price on Nebius Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Arete Research upgraded Nebius Group to a “strong-buy” rating in a report on Thursday, June 5th. Northland Securities set a $47.00 target price on Nebius Group and gave the company an “outperform” rating in a research report on Wednesday, May 21st. Finally, DA Davidson increased their price target on shares of Nebius Group from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $70.80.

Institutional Investors Weigh In On Nebius Group

A number of hedge funds have recently bought and sold shares of the stock. Centaurus Financial Inc. purchased a new position in shares of Nebius Group in the 4th quarter valued at about $9,505,000. GAMMA Investing LLC purchased a new position in Nebius Group in the first quarter worth approximately $80,000. Whipplewood Advisors LLC acquired a new position in Nebius Group during the 1st quarter worth approximately $36,000. Intellectus Partners LLC acquired a new position in Nebius Group during the 1st quarter worth approximately $570,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Nebius Group in the 1st quarter valued at approximately $453,000. Institutional investors and hedge funds own 21.90% of the company’s stock.

Nebius Group Price Performance

The firm has a market capitalization of $16.51 billion, a price-to-earnings ratio of -122.84 and a beta of 3.36. The stock’s fifty day moving average price is $55.68 and its two-hundred day moving average price is $40.11. The company has a current ratio of 14.70, a quick ratio of 14.70 and a debt-to-equity ratio of 0.31.

Nebius Group (NASDAQ:NBIS) last issued its earnings results on Tuesday, August 26th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.03). The company had revenue of $47.60 million for the quarter, compared to analysts’ expectations of $95.60 million. Equities research analysts expect that Nebius Group N.V. will post -1.1 EPS for the current year.

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.