Nebius Group (NASDAQ:NBIS) Shares Gap Up - Here's What Happened

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $44.30, but opened at $48.93. Nebius Group shares last traded at $50.03, with a volume of 9,762,799 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. BWS Financial raised their target price on Nebius Group from $60.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. The Goldman Sachs Group initiated coverage on Nebius Group in a research note on Monday. They issued a "buy" rating and a $68.00 price objective for the company. DA Davidson boosted their price objective on Nebius Group from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Northland Capmk raised Nebius Group to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Arete Research raised 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 issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $66.80.

Nebius Group Price Performance

The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of -91.14 and a beta of 3.25. The stock has a 50-day moving average price of $42.76 and a 200-day moving average price of $34.36.

Nebius Group (NASDAQ:NBIS - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported ($0.48) earnings per share for the quarter. The company had revenue of $55.30 million during the quarter. The business's revenue was up 385 on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.25) earnings per share. Equities analysts forecast that Nebius Group N.V. will post -1.1 earnings per share for the current year.

Institutional Investors Weigh In On Nebius Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group bought a new stake in Nebius Group during the 2nd quarter worth approximately $40,000. Salem Investment Counselors Inc. raised its position in shares of Nebius Group by 1,413.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,135 shares of the company's stock worth $63,000 after buying an additional 1,060 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Nebius Group in the first quarter worth $25,000. Banque Cantonale Vaudoise purchased a new stake in Nebius Group during the first quarter valued at about $33,000. Finally, First Horizon Advisors Inc. bought a new position in shares of Nebius Group during the first quarter valued at about $33,000. Institutional investors own 21.90% of the company's stock.

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.