Nebius Group (NASDAQ:NBIS) Trading 3.6% Higher - Still a Buy?

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) rose 3.6% during mid-day trading on Thursday . The company traded as high as $50.35 and last traded at $50.25. Approximately 3,080,676 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 11,265,507 shares. The stock had previously closed at $48.52.

Wall Street Analysts Forecast Growth

NBIS has been the subject of a number of research reports. BWS Financial increased their price target on shares of Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Arete Research raised shares of Nebius Group to a "strong-buy" rating in a research note on Thursday, June 5th. Northland Securities set a $47.00 price target on shares of Nebius Group and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Arete initiated coverage on shares of Nebius Group in a research note on Thursday, June 5th. They issued a "buy" rating and a $84.00 price target for the company. Finally, DA Davidson increased their price target on shares of Nebius Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $66.50.

Nebius Group Price Performance

The stock's 50 day simple moving average is $37.09 and its two-hundred day simple moving average is $32.82. The firm has a market cap of $12.40 billion, a P/E ratio of -92.28 and a beta of 3.25.

Hedge Funds Weigh In On Nebius Group

Institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc bought a new position in shares of Nebius Group during the first quarter valued at approximately $25,000. Banque Cantonale Vaudoise bought a new position in shares of Nebius Group during the first quarter valued at approximately $33,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group during the first quarter valued at approximately $33,000. Manchester Capital Management LLC bought a new stake in shares of Nebius Group during the first quarter valued at approximately $34,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of Nebius Group during the first quarter valued at approximately $36,000. Institutional investors 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.