Nebius Group (NASDAQ:NBIS) Stock Price Up 12.3% - What's Next?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s stock price traded up 12.3% during trading on Monday . The company traded as high as $55.04 and last traded at $54.21. 16,244,519 shares were traded during mid-day trading, an increase of 48% from the average session volume of 11,007,267 shares. The stock had previously closed at $48.28.

Analysts Set New Price Targets

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

Nebius Group Stock Performance

The company's fifty day moving average is $29.21 and its two-hundred day moving average is $30.66. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of -92.68 and a beta of 3.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. purchased a new stake in Nebius Group during the 1st quarter worth approximately $2,405,000. Siren L.L.C. bought a new stake in Nebius Group in the first quarter valued at $2,955,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Nebius Group during the first quarter worth about $9,084,000. Fred Alger Management LLC acquired a new stake in shares of Nebius Group in the 1st quarter worth about $67,431,000. Finally, Two Seas Capital LP bought a new position in Nebius Group in the 1st quarter valued at about $3,166,000. 21.90% of the stock is owned by hedge funds and other institutional investors.

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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