Nebius Group (NASDAQ:NBIS) Shares Down 1.9% - Time to Sell?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s share price dropped 1.9% on Friday . The company traded as low as $45.79 and last traded at $45.55. Approximately 2,108,886 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 11,179,661 shares. The stock had previously closed at $46.43.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Northland Securities set a $47.00 price target on Nebius Group and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Arete Research raised Nebius Group to a "strong-buy" rating in a research report on Thursday, June 5th. The Goldman Sachs Group began coverage on Nebius Group in a report on Monday. They issued a "buy" rating and a $68.00 price target for the company. Wall Street Zen upgraded shares of Nebius Group from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, DA Davidson boosted their price objective on shares of Nebius Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Nebius Group has an average rating of "Buy" and a consensus target price of $66.80.

Nebius Group Trading Up 17.3%

The firm has a market capitalization of $12.25 billion, a PE ratio of -91.14 and a beta of 3.25. The company has a fifty day moving average price of $42.76 and a two-hundred day moving average price of $34.36.

Nebius Group (NASDAQ:NBIS - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The company reported ($0.48) earnings per share (EPS) for the quarter. The company had revenue of $55.30 million during the quarter. The firm's revenue for the quarter was up 385 on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.25) EPS. As a group, equities research analysts predict that Nebius Group N.V. will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On Nebius Group

A number of hedge funds have recently modified their holdings of the business. IFP Advisors Inc purchased a new stake in Nebius Group in the 1st quarter valued at $25,000. First Horizon Advisors Inc. acquired a new position in Nebius Group in the first quarter valued at $33,000. Banque Cantonale Vaudoise purchased a new stake in shares of Nebius Group in the first quarter valued at about $33,000. Manchester Capital Management LLC acquired a new stake in shares of Nebius Group during the first quarter worth about $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Nebius Group during the first quarter worth about $36,000. 21.90% of the stock is currently 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.