Nebius Group (NASDAQ:NBIS) Stock Price Up 8.7% on Analyst Upgrade

Nebius Group N.V. (NASDAQ:NBIS) shares were up 8.7% on Monday after DA Davidson raised their price target on the stock from $50.00 to $55.00. DA Davidson currently has a buy rating on the stock. Nebius Group traded as high as $51.25 and last traded at $51.24. Approximately 6,416,287 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 11,192,272 shares. The stock had previously closed at $47.13.

Several other research firms have also weighed in on NBIS. Arete Research upgraded Nebius Group to a “strong-buy” rating in a report on Thursday, June 5th. Arete initiated coverage on shares of Nebius Group in a report on Thursday, June 5th. They issued a “buy” rating and a $84.00 price target for the company. BWS Financial increased their price objective on shares of Nebius Group from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Northland Securities set a $47.00 price objective on shares of Nebius Group and gave the stock an “outperform” rating in a research note on Wednesday, May 21st. Finally, Northland Capmk upgraded Nebius Group to a “strong-buy” rating in a report on Tuesday, May 6th. Four research analysts have rated the stock with 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 target price of $66.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hodges Capital Management Inc. acquired a new stake in Nebius Group in the 1st quarter valued at $2,405,000. Siren L.L.C. acquired a new stake in Nebius Group in the 1st quarter worth about $2,955,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Nebius Group during the first quarter valued at approximately $9,084,000. Fred Alger Management LLC acquired a new stake in shares of Nebius Group in the first quarter worth approximately $67,431,000. Finally, Two Seas Capital LP purchased a new stake in shares of Nebius Group during the first quarter worth approximately $3,166,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

Nebius Group Trading Up 8.5%

The business has a fifty day simple moving average of $32.12 and a two-hundred day simple moving average of $31.65. The company has a market cap of $12.05 billion, a PE ratio of -89.55 and a beta of 3.25.

Nebius Group Company Profile

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.