Nebius Group (NASDAQ:NBIS) Shares Down 4.6% - Time to Sell?

Key Points

• Shares of Nebius Group (NASDAQ:NBIS) fell about 4.6% on Friday to $98.04 (intraday low $96.20) on roughly 12.97 million shares, below the average daily volume of ~15.13 million.
• Analysts maintain a consensus Buy rating with a consensus target price of $144.71, while individual price targets cited in recent reports range from $120 to $175.
• Nebius is an AI/cloud company (Nebius AI and Toloka AI) with a market cap of $24.69 billion, a negative P/E of -127.32 and a high beta (3.83), and several large institutions recently initiated sizable positions leaving institutional ownership at about 21.9%.

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) were down 4.6% on Friday . The company traded as low as $96.20 and last traded at $98.04. Approximately 12,968,535 shares were traded during trading, a decline of 14% from the average daily volume of 15,129,679 shares. The stock had previously closed at $102.80.

Analyst Ratings Changes

Several brokerages have issued reports on NBIS. BWS Financial reaffirmed a "buy" rating and set a $130.00 price target on shares of Nebius Group in a report on Thursday, November 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Nebius Group in a research report on Monday. Citizens Jmp assumed coverage on shares of Nebius Group in a report on Wednesday, November 19th. They set a "market outperform" rating and a $175.00 target price for the company. The Goldman Sachs Group reiterated a "buy" rating and issued a $120.00 price target on shares of Nebius Group in a research note on Wednesday, September 17th. Finally, CICC Research started coverage on shares of Nebius Group in a research report on Tuesday, November 11th. They set an "outperform" rating and a $143.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Nebius Group currently has a consensus rating of "Buy" and a consensus target price of $144.71.

Nebius Group Trading Down 4.6%

The firm has a market cap of $24.69 billion, a price-to-earnings ratio of -127.32 and a beta of 3.83. The firm's 50 day simple moving average is $109.31 and its two-hundred day simple moving average is $77.03.

Institutional Investors Weigh In On Nebius Group

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

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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