Nebius Group (NASDAQ:NBIS) Shares Up 8.7% on Analyst Upgrade

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

A number of other research firms have also weighed in on NBIS. Northland Capmk raised shares of Nebius Group to a “strong-buy” rating in a report on Tuesday, May 6th. Arete began coverage on Nebius Group in a research note on Thursday, June 5th. They issued a “buy” rating and a $84.00 target price on the stock. Northland Securities set a $47.00 price target on Nebius Group and gave the company an “outperform” rating in a research report on Wednesday, May 21st. BWS Financial upped their price objective on shares of Nebius Group from $60.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Finally, Arete Research raised shares of Nebius Group to a “strong-buy” rating in a research note on Thursday, June 5th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $66.50.

Institutional Investors Weigh In On Nebius Group

A number of institutional investors have recently made changes to their positions in NBIS. Orbis Allan Gray Ltd bought a new position in shares of Nebius Group during the first quarter valued at about $331,474,000. Accel Leaders 4 Associates L.P. bought a new position in shares of Nebius Group in the first quarter worth approximately $96,704,000. Invesco Ltd. bought a new position in Nebius Group during the 1st quarter valued at approximately $73,782,000. Fred Alger Management LLC bought a new stake in shares of Nebius Group during the 1st quarter valued at about $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in Nebius Group in the first quarter worth $46,822,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

Nebius Group Price Performance

The firm has a market cap of $12.05 billion, a P/E ratio of -89.55 and a beta of 3.25. The firm’s 50 day moving average is $32.12 and its 200 day moving average is $31.65.

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.