Nebius Group (NASDAQ:NBIS) Trading Up 3% - Here's Why

Key Points

• Nebius Group's stock price increased by 3% to $67.30, with significant trading volume of nearly 9.6 million shares, despite being a 25% decline from its average volume.
• Equities analysts have a consensus rating of "Buy" for Nebius Group, with target prices ranging from $47.00 to $80.00, showing strong support for the stock's growth potential.
• The company reported a revenue increase of 385% year-over-year, though it had a loss of ($0.48) earnings per share for the last quarter.

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s stock price shot up 3% on Friday . The company traded as high as $71.49 and last traded at $67.30. 9,598,273 shares traded hands during trading, a decline of 25% from the average session volume of 12,826,816 shares. The stock had previously closed at $65.31.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BWS Financial lifted their target price on Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Northland Securities set a $47.00 price objective on Nebius Group and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Northland Capmk raised 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 research note on Tuesday. Finally, Arete Research raised shares of Nebius Group to a "strong-buy" rating in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $68.80.

Nebius Group Stock Up 4.7%

The firm has a market cap of $16.11 billion, a PE ratio of -119.89 and a beta of 3.36. The business has a 50 day simple moving average of $49.88 and a two-hundred day simple moving average of $37.10.

Nebius Group (NASDAQ:NBIS - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported ($0.48) earnings per share for the quarter. The company had revenue of $55.30 million for the quarter. The company's revenue was up 385 compared to the same quarter last year. During the same period last year, the firm earned ($0.25) earnings per share. Equities analysts forecast that Nebius Group N.V. will post -1.1 earnings per share for the current year.

Hedge Funds Weigh In On Nebius Group

Hedge funds have recently modified their holdings of the stock. PFG Investments LLC acquired a new position in Nebius Group during the first quarter worth $860,000. SeaCrest Wealth Management LLC acquired a new position in shares of Nebius Group during the 1st quarter worth about $453,000. DekaBank Deutsche Girozentrale purchased a new position in Nebius Group in the 1st quarter valued at about $8,519,000. Colonial River Investments LLC acquired a new position in shares of Nebius Group during the first quarter valued at approximately $330,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Nebius Group during the first quarter valued at approximately $937,000. Institutional investors and hedge funds 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.

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