Nebius Group (NASDAQ:NBIS) Trading 4.2% Higher - Here's What Happened

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report)'s stock price rose 4.2% on Monday . The company traded as high as $58.16 and last traded at $55.03. Approximately 10,301,689 shares traded hands during trading, a decline of 9% from the average daily volume of 11,315,109 shares. The stock had previously closed at $52.79.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Arete assumed coverage on Nebius Group in a report on Thursday, June 5th. They issued a "buy" rating and a $84.00 price target on the stock. BWS Financial boosted their price target on shares of Nebius Group from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Northland Securities set a $47.00 target price on shares of Nebius Group and gave the stock an "outperform" rating in a report on Wednesday, May 21st. The Goldman Sachs Group started coverage on Nebius Group in a research note on Monday, July 14th. They issued a "buy" rating and a $68.00 price objective for the company. Finally, Wall Street Zen downgraded Nebius Group from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $66.80.

Nebius Group Stock Up 0.5%

The stock's 50-day moving average price is $46.42 and its 200 day moving average price is $35.60. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 58.29 and a beta of 3.25.

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

Institutional Investors Weigh In On Nebius Group

A number of institutional investors have recently bought and sold shares of the business. Orbis Allan Gray Ltd acquired a new position in shares of Nebius Group in the 1st quarter valued at $331,474,000. Accel Leaders 4 Associates L.P. bought a new position in Nebius Group during the first quarter worth about $96,704,000. Invesco Ltd. acquired a new stake in Nebius Group during the first quarter valued at approximately $73,782,000. Fred Alger Management LLC acquired a new stake in Nebius Group during the first quarter valued at approximately $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new stake in shares of Nebius Group in the 1st quarter valued at approximately $46,822,000. 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.