Nebius Group (NASDAQ:NBIS) Trading 7.3% Higher on Analyst Upgrade

Shares of Nebius Group N.V. (NASDAQ:NBIS) shot up 7.3% during trading on Tuesday after DA Davidson raised their price target on the stock from $35.00 to $45.00. DA Davidson currently has a buy rating on the stock. Nebius Group traded as high as $41.32 and last traded at $40.29. 17,080,424 shares traded hands during mid-day trading, an increase of 64% from the average session volume of 10,416,061 shares. The stock had previously closed at $37.56.

A number of other equities analysts have also commented on the stock. Northland Securities began coverage on shares of Nebius Group in a research report on Tuesday, May 6th. They set an “outperform” rating and a $34.00 target price on the stock. Northland Capmk upgraded Nebius Group to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, BWS Financial reaffirmed a “buy” rating and set a $60.00 target price on shares of Nebius Group in a research report on Tuesday, March 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NBIS. IFP Advisors Inc purchased a new position in Nebius Group during the first quarter valued at approximately $25,000. Banque Cantonale Vaudoise purchased a new position in shares of Nebius Group in the 1st quarter valued at $33,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group in the 1st quarter worth $33,000. Manchester Capital Management LLC bought a new position in shares of Nebius Group in the 1st quarter worth $34,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Nebius Group during the 1st quarter worth $36,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

Nebius Group Price Performance

The business has a 50-day moving average of $25.36 and a two-hundred day moving average of $28.71. The company has a market cap of $9.50 billion, a P/E ratio of -70.68 and a beta of 3.11.

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.