Nebius Group (NASDAQ:NBIS) Stock Price Down 1.6% - Time to Sell?

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) were down 1.6% during trading on Thursday . The stock traded as low as $48.82 and last traded at $49.75. Approximately 4,784,549 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 11,152,203 shares. The stock had previously closed at $50.57.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. DA Davidson set a $45.00 price target on shares of Nebius Group and gave the company a "buy" rating in a report on Monday, May 19th. 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. Northland Capmk upgraded shares of Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. Arete initiated coverage on shares of Nebius Group in a report on Thursday, June 5th. They set a "buy" rating and a $84.00 price target for the company. Finally, Arete Research upgraded shares of Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Nebius Group presently has an average rating of "Buy" and a consensus target price of $64.00.

Nebius Group Price Performance

The firm's fifty day moving average price is $32.12 and its 200-day moving average price is $31.65. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of -82.68 and a beta of 3.25.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc acquired a new stake in Nebius Group in the first quarter valued at $25,000. Banque Cantonale Vaudoise acquired a new stake in Nebius Group in the first quarter valued at $33,000. First Horizon Advisors Inc. acquired a new stake in Nebius Group in the first quarter valued at $33,000. Manchester Capital Management LLC acquired a new stake in Nebius Group in the first quarter valued at $34,000. Finally, Whipplewood Advisors LLC acquired a new stake in Nebius Group in the first quarter valued at $36,000. 21.90% of the stock is currently owned by institutional investors and hedge funds.

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.