Nebius Group (NASDAQ:NBIS) Stock Price Down 6.8% – Should You Sell?

Nebius Group N.V. (NASDAQ:NBIS)’s stock price traded down 6.8% during trading on Wednesday . The company traded as low as $75.25 and last traded at $75.45. 16,814,607 shares traded hands during trading, an increase of 12% from the average session volume of 15,057,654 shares. The stock had previously closed at $80.95.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. BWS Financial reaffirmed a “buy” rating and issued a $130.00 price target on shares of Nebius Group in a report on Thursday, November 13th. DA Davidson reaffirmed a “buy” rating and set a $150.00 target price on shares of Nebius Group in a research note on Wednesday, November 12th. Citizens Jmp assumed coverage on shares of Nebius Group in a research note on Wednesday, November 19th. They issued a “market outperform” rating and a $175.00 price target on the stock. Northland Securities boosted their price target on shares of Nebius Group from $206.00 to $211.00 and gave the stock an “outperform” rating in a report on Wednesday, November 12th. Finally, Seaport Res Ptn raised shares of Nebius Group to a “hold” rating in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $144.71.

Nebius Group Stock Down 6.8%

The company has a 50-day moving average of $105.11 and a 200 day moving average of $80.56. The stock has a market capitalization of $19.00 billion, a PE ratio of -97.99 and a beta of 3.83.

Hedge Funds Weigh In On Nebius Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Orbis Allan Gray Ltd grew its stake in Nebius Group by 12.4% during the 2nd quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock valued at $976,681,000 after acquiring an additional 1,949,708 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of Nebius Group by 33.4% during the 3rd quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock worth $1,137,551,000 after purchasing an additional 2,536,832 shares during the last quarter. Jericho Capital Asset Management L.P. grew its position in shares of Nebius Group by 55.7% in the third quarter. Jericho Capital Asset Management L.P. now owns 4,607,497 shares of the company’s stock valued at $517,284,000 after purchasing an additional 1,648,497 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Nebius Group by 2.7% in the second quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock valued at $198,514,000 after purchasing an additional 92,710 shares during the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in shares of Nebius Group in the first quarter valued at approximately $46,822,000. 21.90% of the stock is owned by hedge funds and other 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.