Nebius Group (NASDAQ:NBIS) Shares Down 5% After Earnings Miss

Key Points

• Nebius Group's shares fell 5% post-earnings announcement, trading as low as $62.01 after closing at $67.19, amidst a sharp decline in trading volume.
• The company reported a loss of $0.48 per share with revenues of $55.30 million, marking a significant increase but deeper losses compared to the previous year.
• Analysts have set varying price targets for the stock, with a consensus target of $70.80 and ratings ranging from "buy" to "sell."

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) traded down 5% during mid-day trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $62.01 and last traded at $63.80. 6,408,710 shares were traded during mid-day trading, a decline of 50% from the average session volume of 12,910,135 shares. The stock had previously closed at $67.19.

The company reported ($0.48) earnings per share for the quarter. The firm had revenue of $55.30 million during the quarter. During the same period last year, the firm posted ($0.25) earnings per share. The business's quarterly revenue was up 385 on a year-over-year basis.

Analysts Set New Price Targets

NBIS has been the subject of a number of research analyst reports. Arete initiated coverage on Nebius Group in a research report on Thursday, June 5th. They issued a "buy" rating and a $84.00 target price for the company. Northland Securities set a $47.00 target price on Nebius Group and gave the company an "outperform" rating in a research report on Wednesday, May 21st. BWS Financial boosted their target price on Nebius Group from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Wall Street Zen lowered Nebius Group from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, The Goldman Sachs Group initiated coverage on Nebius Group in a research report on Monday, July 14th. They issued a "buy" rating and a $68.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $70.80.

Hedge Funds Weigh In On Nebius Group

A number of hedge funds and other institutional investors have recently modified their holdings of NBIS. Orbis Allan Gray Ltd purchased a new position in shares of Nebius Group in the 1st quarter worth approximately $331,474,000. Accel Leaders 4 Associates L.P. bought a new stake in shares of Nebius Group in the 1st quarter worth approximately $96,704,000. Invesco Ltd. bought a new stake in shares of Nebius Group in the 1st quarter worth approximately $73,782,000. Fred Alger Management LLC bought a new stake in shares of Nebius Group in the 1st quarter worth approximately $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of Nebius Group in the 1st quarter worth approximately $46,822,000. Hedge funds and other institutional investors own 21.90% of the company's stock.

Nebius Group Price Performance

The company has a current ratio of 14.70, a quick ratio of 14.70 and a debt-to-equity ratio of 0.31. The company has a market cap of $15.42 billion, a P/E ratio of -114.78 and a beta of 3.36. The business's fifty day moving average is $54.20 and its 200 day moving average is $39.15.

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.

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