DA Davidson Issues Pessimistic Forecast for Nebius Group (NASDAQ:NBIS) Stock Price

Nebius Group (NASDAQ:NBIS - Get Free Report) had its target price dropped by equities researchers at DA Davidson from $50.00 to $30.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's price objective would indicate a potential upside of 39.34% from the stock's previous close.

Separately, BWS Financial reissued a "buy" rating and set a $60.00 price objective on shares of Nebius Group in a research note on Tuesday, March 4th.

Nebius Group Stock Performance

Shares of NASDAQ:NBIS traded up $0.45 on Monday, reaching $21.53. The company's stock had a trading volume of 3,959,909 shares, compared to its average volume of 10,651,537. The company has a 50-day simple moving average of $28.56 and a 200 day simple moving average of $27.46. The company has a market cap of $5.07 billion, a P/E ratio of -37.77 and a beta of 2.54. Nebius Group has a 52-week low of $14.09 and a 52-week high of $50.87.

Institutional Investors Weigh In On Nebius Group

Several institutional investors have recently made changes to their positions in NBIS. Whipplewood Advisors LLC purchased a new stake in Nebius Group in the 1st quarter worth about $36,000. Ulland Investment Advisors LLC purchased a new stake in shares of Nebius Group in the first quarter worth approximately $53,000. GAMMA Investing LLC bought a new stake in shares of Nebius Group during the 1st quarter worth approximately $80,000. Fifth Third Bancorp purchased a new position in Nebius Group during the 1st quarter valued at $130,000. Finally, Farther Finance Advisors LLC purchased a new stake in Nebius Group in the first quarter worth $152,000. Institutional investors own 21.90% of the company's stock.

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.