Nebius Group (NASDAQ:NBIS) Trading Up 22.5% - Here's What Happened

Key Points

• Shares of Nebius Group surged by 22.5%, reaching a high of $70.54 after trading up from a previous close of $55.09, with a significant increase in trading volume.
• Analysts upgraded Nebius Group to a "strong-buy" rating, with several adjusting their price targets, resulting in a consensus target of $68.80 for the stock.
• Despite recent strong revenue growth of 385% year-over-year, the company reported an earnings loss of ($0.48) per share for the last quarter.

Shares of Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) rose 22.5% during mid-day trading on Thursday . The company traded as high as $70.54 and last traded at $67.49. Approximately 26,466,780 shares changed hands during mid-day trading, an increase of 108% from the average daily volume of 12,718,763 shares. The stock had previously closed at $55.09.

Analysts Set New Price Targets

A number of analysts have weighed in on NBIS shares. Arete Research upgraded Nebius Group to a "strong-buy" rating in a research report on Thursday, June 5th. Northland Capmk upgraded shares of Nebius Group to a "strong-buy" rating in a report on Tuesday, May 6th. DA Davidson upped their price target on shares of Nebius Group from $55.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday. BWS Financial upped their price objective on Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Wall Street Zen downgraded shares of Nebius Group from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $68.80.

Nebius Group Stock Performance

The company's 50 day moving average is $49.34 and its 200 day moving average is $36.90. The firm has a market cap of $15.40 billion, a P/E ratio of -114.58 and a beta of 3.36.

Nebius Group (NASDAQ:NBIS - Get Free Report) last released its 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 for the quarter. The company's revenue for the quarter was up 385 compared to the same quarter last year. During the same period last year, the business earned ($0.25) EPS. On average, equities research analysts anticipate that Nebius Group N.V. will post -1.1 EPS for the current year.

Institutional Trading of Nebius Group

Several institutional investors have recently made changes to their positions in NBIS. FDx Advisors Inc. bought a new stake in Nebius Group in the 2nd quarter valued at about $444,000. Rathbones Group PLC purchased a new position in shares of Nebius Group in the 2nd quarter worth about $1,047,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Nebius Group during the second quarter valued at approximately $4,071,000. Black Swift Group LLC purchased a new position in Nebius Group in the 2nd quarter worth $360,000. Finally, Trivest Advisors Ltd purchased a new position in Nebius Group in the 2nd quarter worth approximately $12,261,000. Institutional investors own 21.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.