Envestnet Asset Management Inc. Buys New Shares in Nebius Group N.V. (NASDAQ:NBIS)

Key Points

• Envestnet Asset Management Inc. invested approximately $2.05 million in Nebius Group N.V., acquiring 96,940 shares in the first quarter of the year.
• Nebius Group reported a 385% year-over-year revenue increase, with a quarterly revenue of $55.30 million, while posting an EPS of ($0.48).
• Analysts have diverse ratings on Nebius Group, with a consensus average rating of "Buy" and a price target around $66.80.

Envestnet Asset Management Inc. 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 13F filing with the SEC. The institutional investor bought 96,940 shares of the company's stock, valued at approximately $2,046,000.

Other institutional investors have also modified their holdings of the company. WCM Investment Management LLC bought a new stake in shares of Nebius Group during the first quarter valued at approximately $11,998,000. Centaurus Financial Inc. bought a new stake in Nebius Group during the 4th quarter valued at $9,505,000. SG Americas Securities LLC bought a new stake in Nebius Group during the 1st quarter valued at $3,415,000. TB Alternative Assets Ltd. bought a new stake in Nebius Group during the 1st quarter valued at $2,957,000. Finally, Exchange Traded Concepts LLC bought a new stake in Nebius Group during the 1st quarter valued at $2,621,000. Institutional investors and hedge funds own 21.90% of the company's stock.

Nebius Group Stock Performance

Nebius Group stock traded down $2.43 during trading hours on Friday, hitting $52.00. 11,689,764 shares of the stock were exchanged, compared to its average volume of 12,727,200. The stock has a market capitalization of $12.26 billion, a P/E ratio of -91.23 and a beta of 3.25. Nebius Group N.V. has a 12 month low of $14.09 and a 12 month high of $58.16. The business's 50-day moving average is $48.14 and its two-hundred day moving average is $36.43.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NBIS. Northland Securities set a $47.00 price objective on shares of Nebius Group and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Wall Street Zen lowered shares of Nebius Group from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Arete Research raised shares of Nebius Group to a "strong-buy" rating in a research note on Thursday, June 5th. Northland Capmk raised shares of Nebius Group to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Nebius Group in a research note on Monday, July 14th. They issued a "buy" rating and a $68.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $66.80.

Nebius Group 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.