Nebius Group (NASDAQ:NBIS) Shares Up 8.6% - Time to Buy?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s share price shot up 8.6% on Tuesday . The company traded as high as $53.00 and last traded at $51.57. 9,714,516 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 11,245,956 shares. The stock had previously closed at $47.48.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NBIS. Northland Securities set a $47.00 price objective on shares of Nebius Group and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Arete initiated coverage on Nebius Group in a research report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price objective for the company. BWS Financial boosted 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. DA Davidson increased their price target on Nebius Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, Wall Street Zen upgraded Nebius Group from a "sell" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $66.50.

Nebius Group Stock Up 7.5%

The business has a 50-day moving average price of $35.92 and a two-hundred day moving average price of $32.57. The company has a market cap of $12.03 billion, a P/E ratio of -89.51 and a beta of 3.25.

Institutional Investors Weigh In On Nebius Group

Several institutional investors have recently modified their holdings of NBIS. IFP Advisors Inc bought a new stake in Nebius Group in the first quarter valued at approximately $25,000. First Horizon Advisors Inc. bought a new stake in shares of Nebius Group in the 1st quarter valued at $33,000. Banque Cantonale Vaudoise bought a new position in Nebius Group during the first quarter worth about $33,000. Manchester Capital Management LLC acquired a new position in Nebius Group in the first quarter valued at about $34,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Nebius Group in the first quarter worth about $36,000. Institutional investors and hedge funds own 21.90% of the company's stock.

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.