Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 20,969 Nebius Group N.V. $NBIS

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Nebius Group N.V. by purchasing 20,969 shares worth approximately $443,000 in the first quarter, amidst increasing institutional interest in the company.
• Wall Street analysts are optimistic about Nebius Group, with several firms assigning a buy rating and price targets ranging from $65.00 to $84.00, indicating strong potential for growth.
• Nebius Group's stock is currently trading at $67.47, reflecting a significant increase over the previous year, where it reported a 385% revenue growth compared to the same quarter last year.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,969 shares of the company's stock, valued at approximately $443,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Investments LLC acquired a new position in Nebius Group during the first quarter worth $860,000. SeaCrest Wealth Management LLC acquired a new position in Nebius Group during the first quarter worth $453,000. DekaBank Deutsche Girozentrale acquired a new position in Nebius Group during the first quarter worth $8,519,000. Colonial River Investments LLC acquired a new position in Nebius Group during the first quarter worth $330,000. Finally, Vontobel Holding Ltd. acquired a new position in Nebius Group during the first quarter worth $937,000. 21.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Nebius Group in a report on Monday, July 14th. They set a "buy" rating and a $68.00 price objective for the company. Arete assumed coverage on Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price target for the company. Arete Research raised Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Wall Street Zen cut Nebius Group from a "hold" rating to a "sell" rating in a report on Sunday. Finally, DA Davidson boosted their price target on Nebius Group from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat, Nebius Group presently has a consensus rating of "Buy" and an average price target of $70.80.

Nebius Group Trading Up 0.4%

Shares of NASDAQ:NBIS traded up $0.28 during midday trading on Wednesday, reaching $67.47. The company's stock had a trading volume of 14,085,996 shares, compared to its average volume of 13,579,998. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 75.49 and a beta of 3.36. The company has a quick ratio of 14.70, a current ratio of 14.70 and a debt-to-equity ratio of 0.31. Nebius Group N.V. has a 1 year low of $14.09 and a 1 year high of $75.96. The business has a 50 day moving average price of $54.53 and a 200 day moving average price of $39.34.

Nebius Group (NASDAQ:NBIS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The company reported ($0.48) EPS for the quarter. The firm had revenue of $55.30 million during the quarter. The business's revenue for the quarter was up 385 compared to the same quarter last year. During the same period in the prior year, the company earned ($0.25) earnings per share. Research analysts forecast that Nebius Group N.V. will post -1.1 EPS for the current year.

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.