Freedom Investment Management Inc. Purchases New Position in Nebius Group N.V. $NBIS

Key Points

• Freedom Investment Management Inc. purchased 10,851 shares of Nebius Group N.V. valued at approximately $229,000 in the first quarter of 2023.
• Several hedge funds, including Centaurus Financial Inc. and GAMMA Investing LLC, have also acquired new positions in Nebius Group, with institutional investors currently owning 21.90% of the stock.
• Analyst ratings for Nebius Group are positive, with a consensus rating of "Buy" and a target price averaging $70.80, indicating strong market confidence in the company's performance.

Freedom Investment Management Inc. acquired a new stake in Nebius Group N.V. (NASDAQ:NBIS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,851 shares of the company's stock, valued at approximately $229,000.

A number of other institutional investors have also made changes to their positions in NBIS. IFP Advisors Inc bought a new position in shares of Nebius Group in the 1st quarter valued at approximately $25,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group in the 1st quarter valued at approximately $33,000. Banque Cantonale Vaudoise bought a new position in shares of Nebius Group in the 1st quarter valued at approximately $33,000. Manchester Capital Management LLC bought a new position in shares of Nebius Group in the 1st quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC bought a new position in shares of Nebius Group in the 1st quarter valued at approximately $36,000. 21.90% of the stock is owned by institutional investors.

Nebius Group Stock Performance

Shares of NASDAQ:NBIS traded down $3.72 during trading on Friday, hitting $68.32. 7,572,800 shares of the stock were exchanged, compared to its average volume of 13,234,790. The company's fifty day simple moving average is $57.44 and its 200-day simple moving average is $40.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 14.70 and a current ratio of 14.70. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of -119.86 and a beta of 3.36. Nebius Group N.V. has a 1-year low of $14.09 and a 1-year high of $75.96.

Nebius Group (NASDAQ:NBIS - Get Free Report) last announced its quarterly earnings results on Tuesday, September 2nd. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.03). The company had revenue of $47.60 million during the quarter, compared to analyst estimates of $95.60 million. Sell-side analysts expect that Nebius Group N.V. will post -1.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NBIS. Arete Research raised Nebius Group to a "strong-buy" rating in a research note on Thursday, June 5th. DA Davidson lifted their price target on Nebius Group from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. BWS Financial lifted their price target on Nebius Group from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Northland Securities set a $47.00 price target on Nebius Group and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Finally, Arete started coverage on Nebius Group in a research report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $70.80.

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.