Nebius Group (NASDAQ:NBIS) Trading 2% Higher - Should You Buy?

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) shot up 2% during mid-day trading on Tuesday . The stock traded as high as $36.85 and last traded at $36.74. 4,199,230 shares were traded during trading, a decline of 60% from the average session volume of 10,514,798 shares. The stock had previously closed at $36.02.

Analyst Ratings Changes

NBIS has been the topic of several analyst reports. BWS Financial reissued a "buy" rating and issued a $60.00 price objective on shares of Nebius Group in a research note on Wednesday, May 21st. Northland Securities set a $47.00 price target on Nebius Group and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Northland Capmk upgraded Nebius Group to a "strong-buy" rating in a research report on Tuesday, May 6th. Arete began coverage on Nebius Group in a research note on Thursday. They issued a "buy" rating and a $84.00 price objective on the stock. Finally, DA Davidson set a $45.00 target price on shares of Nebius Group and gave the company a "buy" rating in a research report on Monday, May 19th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $59.00.

Nebius Group Stock Up 17.5%

The stock's 50-day simple moving average is $28.70 and its 200 day simple moving average is $30.34. The firm has a market cap of $10.92 billion, a P/E ratio of -81.23 and a beta of 3.25.

Institutional Investors Weigh In On Nebius Group

Several large investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. bought a new stake in Nebius Group in the fourth quarter worth approximately $9,505,000. GAMMA Investing LLC bought a new stake in shares of Nebius Group in the 1st quarter valued at $80,000. Whipplewood Advisors LLC acquired a new position in shares of Nebius Group during the 1st quarter valued at $36,000. Intellectus Partners LLC acquired a new position in shares of Nebius Group during the 1st quarter valued at $570,000. Finally, SeaCrest Wealth Management LLC bought a new position in Nebius Group during the first quarter worth $453,000. Institutional investors and hedge funds 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.