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

Key Points

• Nebius Group (NASDAQ:NBIS) shares gapped up from a closing price of $70.24 to an opening price of $73.43, eventually trading at $74.66 with a volume of over 3 million shares.
• A consensus target price for Nebius Group is set at $70.80, with five analysts rating it as a "buy" and two as a "strong buy," reflecting positive market sentiment.
• In the most recent earnings report, Nebius Group recorded a revenue of $55.30 million, which represents a year-over-year increase of 385%, despite reporting a negative earnings per share of ($0.48).

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $70.24, but opened at $73.43. Nebius Group shares last traded at $74.66, with a volume of 3,298,342 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NBIS shares. Northland Securities set a $47.00 price target on Nebius Group and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group assumed coverage on Nebius Group in a research report on Monday, July 14th. They set a "buy" rating and a $68.00 target price on the stock. Arete started coverage on Nebius Group in a research note on Thursday, June 5th. They set a "buy" rating and a $84.00 price target on the stock. DA Davidson increased their price objective on shares of Nebius Group from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, BWS Financial boosted their target price on shares of Nebius Group from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $70.80.

Nebius Group Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 14.70 and a current ratio of 14.70. The firm's 50 day simple moving average is $51.21 and its 200 day simple moving average is $37.49. The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of -128.58 and a beta of 3.36.

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

Institutional Inflows and Outflows

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

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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