Cedar Wealth Management LLC Makes New Investment in Nebius Group N.V. (NASDAQ:NBIS)

Cedar Wealth Management LLC acquired a new position in shares of Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,785 shares of the company's stock, valued at approximately $228,000.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new position in shares of Nebius Group in the 1st quarter valued at $25,000. Banque Cantonale Vaudoise bought a new position in shares of Nebius Group in the 1st quarter valued at $33,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group in the 1st quarter valued at $33,000. Whipplewood Advisors LLC bought a new position in shares of Nebius Group in the 1st quarter valued at $36,000. Finally, Larson Financial Group LLC bought a new position in shares of Nebius Group in the 1st quarter valued at $41,000. Institutional investors own 21.90% of the company's stock.

Analyst Ratings Changes

NBIS has been the topic of several recent analyst reports. DA Davidson lifted their price target on Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, June 16th. The Goldman Sachs Group started coverage on Nebius Group in a research note on Monday, July 14th. They issued a "buy" rating and a $68.00 price target on the stock. Arete started coverage on Nebius Group in a report on Thursday, June 5th. They set a "buy" rating and a $84.00 price objective on the stock. Arete Research raised Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Northland Capmk raised Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $66.80.

Nebius Group Price Performance

Shares of NASDAQ:NBIS opened at $52.00 on Friday. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of -91.23 and a beta of 3.36. The business's 50-day moving average is $48.41 and its 200-day moving average is $36.53. Nebius Group N.V. has a 1 year low of $14.09 and a 1 year high of $58.16.

Nebius Group (NASDAQ:NBIS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported ($0.48) earnings per share (EPS) for the quarter. The firm had revenue of $55.30 million during the quarter. Nebius Group's revenue for the quarter was up 385 compared to the same quarter last year. During the same period in the prior year, the business posted ($0.25) EPS. Analysts anticipate 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.

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