US Bancorp DE Buys New Holdings in Nebius Group N.V. (NASDAQ:NBIS)

Key Points

• US Bancorp DE has acquired **11,714 shares** of Nebius Group N.V. valued at approximately **$247,000** in the first quarter of 2024.
• Nebius Group reported a quarterly revenue of **$55.30 million**, a **385% increase** compared to the same period last year, but posted earnings of **($0.48) per share**.
• Analysts have upgraded Nebius Group's stock ratings, with an average price target of **$70.80** and several firms issuing **buy** and **strong-buy ratings**.

US Bancorp DE bought a new position in shares of Nebius Group N.V. (NASDAQ:NBIS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,714 shares of the company's stock, valued at approximately $247,000.

Other large investors have also modified their holdings of the company. IFP Advisors Inc purchased a new stake in shares of Nebius Group in the first quarter valued at about $25,000. Banque Cantonale Vaudoise purchased a new stake in shares of Nebius Group in the first quarter valued at about $33,000. First Horizon Advisors Inc. acquired a new position in Nebius Group in the first quarter valued at about $33,000. Whipplewood Advisors LLC purchased a new position in Nebius Group during the first quarter worth about $36,000. Finally, Larson Financial Group LLC purchased a new position in Nebius Group during the first quarter worth about $41,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NBIS shares. The Goldman Sachs Group started coverage on shares of Nebius Group in a research note on Monday, July 14th. They set a "buy" rating and a $68.00 target price for the company. Arete started coverage on shares of Nebius Group in a research note on Thursday, June 5th. They set a "buy" rating and a $84.00 target price for the company. Northland Securities set a $47.00 target price on shares of Nebius Group and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Wall Street Zen raised shares of Nebius Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Arete Research raised shares of Nebius Group to a "strong-buy" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Nebius Group currently has an average rating of "Buy" and an average price target of $70.80.

Nebius Group Stock Up 4.6%

Shares of NBIS traded up $3.16 during mid-day trading on Friday, hitting $71.62. 9,205,816 shares of the company's stock were exchanged, compared to its average volume of 13,969,128. The company has a market cap of $16.88 billion, a price-to-earnings ratio of -125.65 and a beta of 3.36. Nebius Group N.V. has a fifty-two week low of $14.09 and a fifty-two week high of $75.96. 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 stock's 50-day moving average is $53.50 and its 200-day moving average is $38.56.

Nebius Group (NASDAQ:NBIS - Get Free Report) last issued its quarterly 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. Nebius Group's quarterly revenue was up 385 compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.25) EPS. On average, sell-side analysts anticipate 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.