Covestor Ltd Buys Shares of 12,157 Nebius Group N.V. (NASDAQ:NBIS)

Key Points

• Covestor Ltd acquired a new stake in Nebius Group N.V., purchasing 12,157 shares valued at approximately $257,000 during the first quarter.
• Analysts have set new price targets for Nebius Group, with Goldman Sachs giving it a "buy" rating and a target price of $68.00, while DA Davidson raised its target from $55.00 to $65.00.
• Nebius Group's stock has seen significant growth, with a 385% increase in revenue compared to the same quarter last year, despite reporting a loss of ($0.48) EPS.

Covestor Ltd bought a new stake in Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,157 shares of the company's stock, valued at approximately $257,000.

Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc bought a new position in Nebius Group in the first quarter valued at about $25,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group in the first quarter worth about $33,000. Banque Cantonale Vaudoise bought a new position in shares of Nebius Group in the first quarter worth about $33,000. Manchester Capital Management LLC bought a new position in shares of Nebius Group in the first quarter worth about $34,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Nebius Group in the first quarter worth about $36,000. Institutional investors own 21.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NBIS. The Goldman Sachs Group began coverage on Nebius Group in a research note on Monday, July 14th. They set a "buy" rating and a $68.00 target price on the stock. DA Davidson raised their price target on Nebius Group from $55.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday. BWS Financial lifted their target price on Nebius Group from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Friday. Arete assumed coverage on Nebius Group in a research note on Thursday, June 5th. They set a "buy" rating and a $84.00 target price on the stock. Finally, Wall Street Zen upgraded Nebius Group from a "sell" rating to a "hold" rating in a research note on Saturday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Nebius Group presently has an average rating of "Buy" and a consensus price target of $70.80.

Nebius Group Trading Up 5.3%

NASDAQ NBIS opened at $68.78 on Friday. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of -120.67 and a beta of 3.36. Nebius Group N.V. has a twelve month low of $14.09 and a twelve month high of $71.49. The stock has a 50-day moving average of $50.52 and a 200 day moving average of $37.32.

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