Truist Financial Corp Grows Stock Position in Nebius Group N.V. $NBIS

Key Points

• Truist Financial Corp increased its stake in Nebius Group N.V. by 61.2% during the 2nd quarter, acquiring a total of 30,084 shares valued at approximately $1.67 million.
• Several analysts have set varying price targets for Nebius Group, with Goldman Sachs maintaining a "buy" rating and a price target of $120.00, while BWS Financial raised its target from $90.00 to $130.00.
• Nebius Group recently reported earnings with a net margin of 99.34% and saw revenue of $105.10 million, exceeding analysts' expectations.

Truist Financial Corp lifted its stake in shares of Nebius Group N.V. (NASDAQ:NBIS - Free Report) by 61.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,084 shares of the company's stock after purchasing an additional 11,417 shares during the quarter. Truist Financial Corp's holdings in Nebius Group were worth $1,665,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Scientech Research LLC purchased a new stake in shares of Nebius Group during the first quarter worth approximately $869,000. PFG Investments LLC purchased a new stake in shares of Nebius Group during the first quarter worth approximately $860,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Nebius Group during the first quarter worth approximately $8,519,000. Colonial River Investments LLC purchased a new stake in shares of Nebius Group during the first quarter worth approximately $330,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Nebius Group during the first quarter worth approximately $937,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. The Goldman Sachs Group restated a "buy" rating and set a $120.00 price target on shares of Nebius Group in a research note on Wednesday, September 17th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Nebius Group in a research report on Saturday, September 27th. Wall Street Zen upgraded Nebius Group from a "sell" rating to a "hold" rating in a research report on Tuesday, September 30th. Seaport Res Ptn upgraded Nebius Group to a "hold" rating in a research report on Monday, September 15th. Finally, BWS Financial increased their price objective on Nebius Group from $90.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $91.20.

Nebius Group Trading Down 2.3%

Shares of NBIS stock opened at $129.58 on Friday. Nebius Group N.V. has a fifty-two week low of $14.09 and a fifty-two week high of $141.10. The stock has a market cap of $30.55 billion, a P/E ratio of -227.33 and a beta of 3.45. The business has a fifty day simple moving average of $86.82 and a 200-day simple moving average of $54.95. 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 (NASDAQ:NBIS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.38) earnings per share for the quarter, beating analysts' consensus estimates of ($0.41) by $0.03. Nebius Group had a return on equity of 6.14% and a net margin of 99.34%.The business had revenue of $105.10 million during the quarter, compared to analysts' expectations of $95.60 million. On average, analysts forecast that Nebius Group N.V. will post -1.1 earnings per share 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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