Nebius Group (NASDAQ:NBIS) Shares Gap Up – Time to Buy?

Nebius Group N.V. (NASDAQ:NBIS) shares gapped up before the market opened on Thursday . The stock had previously closed at $39.39, but opened at $41.42. Nebius Group shares last traded at $46.51, with a volume of 18,262,954 shares.

Wall Street Analysts Forecast Growth

NBIS has been the topic of a number of recent research reports. 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. Arete Research raised shares of Nebius Group to a “strong-buy” rating in a research report on Thursday. Northland Capmk upgraded Nebius Group to a “strong-buy” rating in a report on Tuesday, May 6th. Northland Securities set a $47.00 target price on Nebius Group and gave the company an “outperform” rating in a research report on Wednesday, May 21st. Finally, BWS Financial reissued a “buy” rating and set a $60.00 price target on shares of Nebius Group in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $59.00.

Nebius Group Stock Up 4.3%

The business’s 50 day simple moving average is $29.21 and its 200 day simple moving average is $30.53. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of -84.70 and a beta of 3.25.

Institutional Investors Weigh In On Nebius Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc bought a new stake in Nebius Group in the first quarter valued at approximately $25,000. First Horizon Advisors Inc. bought a new position in shares of Nebius Group during the 1st quarter worth approximately $33,000. Banque Cantonale Vaudoise acquired a new position in shares of Nebius Group during the 1st quarter worth approximately $33,000. Manchester Capital Management LLC bought a new stake in Nebius Group in the 1st quarter valued at $34,000. Finally, Whipplewood Advisors LLC bought a new stake in Nebius Group in the 1st quarter valued at $36,000. 21.90% of the stock is owned by institutional investors.

Nebius Group Company Profile

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.