Nebius Group (NASDAQ:NBIS) Trading Up 16.6% – Time to Buy?

Nebius Group N.V. (NASDAQ:NBIS)’s stock price rose 16.6% during trading on Friday . The company traded as high as $86.66 and last traded at $86.10. Approximately 16,795,156 shares were traded during trading, an increase of 28% from the average daily volume of 13,123,804 shares. The stock had previously closed at $73.87.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley initiated coverage on Nebius Group in a report on Thursday, January 15th. They issued an “equal weight” rating and a $126.00 price target for the company. CICC Research assumed coverage on Nebius Group in a research report on Tuesday, November 11th. They set an “outperform” rating and a $143.00 target price for the company. DA Davidson reissued a “buy” rating and set a $150.00 price target on shares of Nebius Group in a research report on Wednesday, November 12th. Wall Street Zen lowered Nebius Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings downgraded Nebius Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.38.

Nebius Group Stock Performance

The firm has a market capitalization of $21.68 billion, a PE ratio of -111.82 and a beta of 3.90. The stock has a fifty day moving average price of $93.12 and a 200-day moving average price of $91.98.

Hedge Funds Weigh In On Nebius Group

A number of large investors have recently added to or reduced their stakes in the company. Fred Alger Management LLC grew its position in shares of Nebius Group by 33.4% in the 3rd quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock worth $1,137,551,000 after buying an additional 2,536,832 shares during the last quarter. Accel Leaders 3 Associates L.P. acquired a new stake in Nebius Group in the fourth quarter valued at approximately $188,496,000. Qube Research & Technologies Ltd acquired a new stake in Nebius Group in the third quarter valued at approximately $238,511,000. Orbis Allan Gray Ltd grew its holdings in Nebius Group by 12.4% in the second quarter. Orbis Allan Gray Ltd now owns 17,651,930 shares of the company’s stock worth $976,681,000 after purchasing an additional 1,949,708 shares during the last quarter. Finally, Clear Street Group Inc. acquired a new position in shares of Nebius Group during the third quarter worth $202,168,000. 21.90% of the stock is currently owned by institutional investors.

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.