Nebius Group (NASDAQ:NBIS) Trading 3.5% Higher – Here’s Why
by Michael Walen · The Markets DailyShares of Nebius Group N.V. (NASDAQ:NBIS – Get Free Report) traded up 3.5% during trading on Monday . The stock traded as high as $89.25 and last traded at $88.16. 10,422,544 shares changed hands during trading, a decline of 18% from the average session volume of 12,785,587 shares. The stock had previously closed at $85.19.
Wall Street Analyst Weigh In
NBIS has been the subject of several recent analyst reports. Wall Street Zen cut shares of Nebius Group from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Northland Securities raised their price target on shares of Nebius Group from $206.00 to $211.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. CICC Research initiated coverage on Nebius Group in a research report on Tuesday, November 11th. They issued an “outperform” rating and a $143.00 price objective on the stock. DA Davidson reissued a “buy” rating and issued a $150.00 target price on shares of Nebius Group in a report on Wednesday, November 12th. Finally, Morgan Stanley began coverage on Nebius Group in a research note on Thursday, January 15th. They issued an “equal weight” rating and a $126.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.38.
Read Our Latest Analysis on NBIS
Nebius Group Stock Up 3.5%
The company has a market cap of $22.20 billion, a P/E ratio of -114.49 and a beta of 3.91. The company has a fifty day moving average of $94.01 and a 200 day moving average of $91.15.
Hedge Funds Weigh In On Nebius Group
Several institutional investors have recently made changes to their positions in NBIS. Royal Bank of Canada bought a new stake in Nebius Group during the first quarter valued at approximately $1,628,000. Millennium Management LLC purchased a new position in shares of Nebius Group during the 1st quarter worth $11,563,000. NewEdge Advisors LLC bought a new stake in shares of Nebius Group during the 1st quarter valued at $40,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Nebius Group in the 1st quarter worth $9,084,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Nebius Group in the 2nd quarter worth $479,000. Institutional investors 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.