Nebius Group (NASDAQ:NBIS) Shares Up 6.8% - Should You Buy?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) shares shot up 6.8% during mid-day trading on Wednesday . The stock traded as high as $38.72 and last traded at $39.80. 3,791,829 shares were traded during mid-day trading, a decline of 64% from the average session volume of 10,526,032 shares. The stock had previously closed at $37.27.

Wall Street Analysts Forecast Growth

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

Nebius Group Stock Up 17.5%

The stock's 50-day simple moving average is $28.19 and its two-hundred day simple moving average is $30.15. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of -81.23 and a beta of 3.25.

Hedge Funds Weigh In On Nebius Group

A number of large investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. purchased a new stake in shares of Nebius Group during the fourth quarter worth $9,505,000. Whipplewood Advisors LLC purchased a new stake in shares of Nebius Group during the first quarter worth $36,000. Farther Finance Advisors LLC purchased a new stake in shares of Nebius Group during the first quarter worth $152,000. Fifth Third Bancorp purchased a new stake in shares of Nebius Group during the first quarter worth $130,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Nebius Group during the first quarter worth $2,621,000. 21.90% of the stock is currently owned by institutional investors and hedge funds.

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.