Nebius Group (NASDAQ:NBIS) Trading 1.1% Higher – Still a Buy?

Nebius Group N.V. (NASDAQ:NBIS)’s share price shot up 1.1% on Thursday . The stock traded as high as $102.54 and last traded at $97.30. 12,890,910 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 12,181,525 shares. The stock had previously closed at $96.21.

Analyst Ratings Changes

A number of analysts have recently commented on the company. DA Davidson restated a “buy” rating and issued a $150.00 price target on shares of Nebius Group in a report on Wednesday, November 12th. BWS Financial reissued a “buy” rating and issued a $130.00 target price on shares of Nebius Group in a research report on Thursday, November 13th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $120.00 price target on shares of Nebius Group in a research report on Wednesday, September 17th. CICC Research began coverage on shares of Nebius Group in a research report on Tuesday, November 11th. They issued an “outperform” rating and a $143.00 price objective on the stock. Finally, Seaport Res Ptn upgraded shares of Nebius Group to a “hold” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $144.71.

Nebius Group Price Performance

The stock has a market capitalization of $24.66 billion, a P/E ratio of -127.18 and a beta of 4.00. The company’s 50-day simple moving average is $93.84 and its 200-day simple moving average is $85.40.

Hedge Funds Weigh In On Nebius Group

A number of institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its stake in shares of Nebius Group by 186.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 29,850 shares of the company’s stock valued at $1,652,000 after acquiring an additional 19,424 shares during the last quarter. Invesco Ltd. increased its holdings in Nebius Group by 2.7% in the 2nd quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock worth $198,514,000 after purchasing an additional 92,710 shares in the last quarter. MGO One Seven LLC bought a new position in Nebius Group in the second quarter valued at about $255,000. Salem Investment Counselors Inc. boosted its stake in shares of Nebius Group by 2,272.7% during the third quarter. Salem Investment Counselors Inc. now owns 26,930 shares of the company’s stock valued at $3,023,000 after purchasing an additional 25,795 shares in the last quarter. Finally, Hardy Reed LLC bought a new stake in shares of Nebius Group during the second quarter worth about $365,000. 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.