Nebius Group (NASDAQ:NBIS) Hits New 1-Year High - Should You Buy?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $55.75 and last traded at $53.36, with a volume of 2754606 shares trading hands. The stock had previously closed at $51.84.

Wall Street Analyst Weigh In

NBIS has been the subject of several research analyst reports. BWS Financial raised their price target on Nebius Group from $60.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Arete assumed coverage on shares of Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 target price for the company. DA Davidson upped their price target on shares of Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Arete Research raised shares of Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Northland Securities set a $47.00 price objective on Nebius Group and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Nebius Group has an average rating of "Buy" and an average price target of $66.50.

Nebius Group Price Performance

The stock's 50-day simple moving average is $37.70 and its two-hundred day simple moving average is $32.96. The firm has a market cap of $12.80 billion, a P/E ratio of -94.90 and a beta of 3.25.

Hedge Funds Weigh In On Nebius Group

Hedge funds have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd purchased a new position in shares of Nebius Group during the first quarter valued at approximately $331,474,000. Accel Leaders 4 Associates L.P. bought a new position in Nebius Group in the 1st quarter valued at $96,704,000. Invesco Ltd. purchased a new stake in Nebius Group in the first quarter worth $73,782,000. Fred Alger Management LLC purchased a new stake in Nebius Group in the first quarter worth $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of Nebius Group during the first quarter worth $46,822,000. 21.90% of the stock is currently owned by institutional investors.

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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