Nebius Group (NASDAQ:NBIS) Stock Price Up 2.4% – Time to Buy?

Nebius Group N.V. (NASDAQ:NBIS)’s stock price rose 2.4% on Tuesday . The stock traded as high as $39.88 and last traded at $39.51. Approximately 4,378,993 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 10,505,508 shares. The stock had previously closed at $38.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. DA Davidson set a $45.00 price objective on shares of Nebius Group and gave the company a “buy” rating in a report on Monday, May 19th. BWS Financial reaffirmed a “buy” rating and set a $60.00 target price on shares of Nebius Group in a research note on Wednesday, May 21st. Northland Capmk raised Nebius Group to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Northland Securities set a $47.00 price target on Nebius Group and gave the stock an “outperform” rating in a report on Wednesday, May 21st.

Nebius Group Stock Up 2.7%

The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of -69.64 and a beta of 3.11. The company has a 50 day moving average of $26.50 and a 200 day moving average of $29.37.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Orbis Allan Gray Ltd bought a new stake in shares of Nebius Group during the 1st quarter worth $331,474,000. Accel Leaders 4 Associates L.P. acquired a new stake in Nebius Group during the first quarter worth about $96,704,000. Invesco Ltd. acquired a new stake in Nebius Group during the first quarter worth about $73,782,000. Fred Alger Management LLC acquired a new stake in Nebius Group during the first quarter worth about $67,431,000. Finally, Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in Nebius Group during the first quarter valued at approximately $46,822,000. 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.