Nebius Group (NASDAQ:NBIS) Shares Up 5.1% After Analyst Upgrade

Nebius Group N.V. (NASDAQ:NBIS) shot up 5.1% during mid-day trading on Monday after Bank of America raised their price target on the stock from $175.00 to $205.00. Bank of America currently has a buy rating on the stock. Nebius Group traded as high as $196.46 and last traded at $186.10. 13,968,224 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 15,429,100 shares. The stock had previously closed at $177.05.

Other analysts have also recently issued reports about the stock. DA Davidson increased their target price on shares of Nebius Group from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Wolfe Research began coverage on shares of Nebius Group in a research note on Thursday, April 16th. They issued a “peer perform” rating on the stock. Compass Point began coverage on shares of Nebius Group in a research note on Wednesday, February 18th. They issued a “buy” rating and a $150.00 target price on the stock. Weiss Ratings upgraded shares of Nebius Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Finally, Freedom Capital cut shares of Nebius Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $159.33.

Insider Activity

In related news, CTO Danila Shtan sold 13,489 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $98.78, for a total transaction of $1,332,443.42. Following the transaction, the chief technology officer owned 307,378 shares of the company’s stock, valued at approximately $30,362,798.84. This trade represents a 4.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrey Korolenko sold 31,357 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $111.20, for a total transaction of $3,486,898.40. Following the transaction, the insider directly owned 585,209 shares in the company, valued at approximately $65,075,240.80. This represents a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 146,441 shares of company stock worth $17,672,342.

Hedge Funds Weigh In On Nebius Group

Several institutional investors and hedge funds have recently made changes to their positions in NBIS. Royal Bank of Canada bought a new position in shares of Nebius Group during the 1st quarter valued at $1,628,000. Millennium Management LLC purchased a new position in shares of Nebius Group in the first quarter valued at about $11,563,000. NewEdge Advisors LLC purchased a new position in shares of Nebius Group in the first quarter valued at about $40,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of Nebius Group in the first quarter valued at about $9,084,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Nebius Group in the second quarter valued at about $68,000. Institutional investors own 21.90% of the company’s stock.

Nebius Group Price Performance

The business’s 50-day simple moving average is $125.83 and its 200-day simple moving average is $107.25. The stock has a market cap of $47.09 billion, a PE ratio of -127.47 and a beta of 4.03. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.89.

Nebius Group (NASDAQ:NBIS) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.27). Nebius Group had a net margin of 19.02% and a negative return on equity of 11.71%. The firm had revenue of $227.70 million during the quarter, compared to analysts’ expectations of $246.05 million. On average, research analysts expect that Nebius Group N.V. will post -2.44 EPS for the current fiscal year.

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.