Nebius Group (NASDAQ:NBIS) Shares Up 12.1% - Should You Buy?

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) shot up 12.1% on Monday . The company traded as high as $51.40 and last traded at $49.67. 12,990,891 shares traded hands during trading, an increase of 16% from the average session volume of 11,230,412 shares. The stock had previously closed at $44.30.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Arete assumed coverage on Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price objective for the company. Northland Capmk raised Nebius Group to a "strong-buy" rating in a research report on Tuesday, May 6th. Arete Research upgraded Nebius Group to a "strong-buy" rating in a report on Thursday, June 5th. BWS Financial raised their price objective on Nebius Group from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, The Goldman Sachs Group assumed coverage on Nebius Group in a research report on Monday. They issued a "buy" rating and a $68.00 price objective for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $66.80.

Nebius Group Stock Up 17.1%

The stock has a 50 day moving average price of $42.76 and a 200 day moving average price of $34.36. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of -91.00 and a beta of 3.25.

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

Hedge Funds Weigh In On Nebius Group

A number of hedge funds and other institutional investors have recently made changes to their positions in NBIS. IFP Advisors Inc bought a new stake in shares of Nebius Group during the first quarter valued at approximately $25,000. First Horizon Advisors Inc. purchased a new position in Nebius Group in the first quarter worth $33,000. Banque Cantonale Vaudoise purchased a new position in Nebius Group in the first quarter worth $33,000. Manchester Capital Management LLC purchased a new position in Nebius Group in the first quarter worth $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Nebius Group during the 1st quarter valued at $36,000. 21.90% of the stock is 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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