Nebius Group (NASDAQ:NBIS) Stock Price Down 7.8% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS)’s share price was down 7.8% during trading on Thursday . The company traded as low as $26.25 and last traded at $27.81. Approximately 8,666,993 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 10,171,692 shares. The stock had previously closed at $30.17.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NBIS. DA Davidson initiated coverage on Nebius Group in a research report on Tuesday, February 25th. They set a “buy” rating and a $50.00 target price on the stock. BWS Financial restated a “buy” rating and set a $60.00 price objective on shares of Nebius Group in a report on Tuesday.

Nebius Group Trading Down 10.2 %

The company has a market cap of $6.38 billion, a price-to-earnings ratio of -47.31 and a beta of 2.57. The business’s 50 day moving average price is $34.97.

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.