Nebius Group (NASDAQ:NBIS) Stock Price Up 2.4% – Still a Buy?

Nebius Group N.V. (NASDAQ:NBIS)’s stock price was up 2.4% on Tuesday. The company traded as high as $246.98 and last traded at $237.36. 13,002,376 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 17,712,723 shares. The stock had previously closed at $231.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Zacks Research lowered shares of Nebius Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Wall Street Zen upgraded Nebius Group from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 16th. Weiss Ratings upgraded Nebius Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Piper Sandler began coverage on Nebius Group in a research note on Monday, August 3rd. They set a “neutral” rating and a $224.00 price objective for the company. Finally, Robert W. Baird raised their target price on shares of Nebius Group from $250.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $241.80.

Nebius Group Price Performance

The business has a 50-day simple moving average of $217.53 and a 200 day simple moving average of $197.01. The firm has a market cap of $60.05 billion, a P/E ratio of -7,909.03 and a beta of 4.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.03 and a current ratio of 4.03.

Nebius Group (NASDAQ:NBIS) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.55. Nebius Group had a negative return on equity of 6.03% and a net margin of 4.55%.The firm had revenue of $582.30 million for the quarter, compared to analyst estimates of $567.91 million. During the same period last year, the company earned $2.38 EPS. The business’s quarterly revenue was up 454% compared to the same quarter last year. On average, analysts anticipate that Nebius Group N.V. will post -3.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Danila Shtan sold 16,937 shares of Nebius Group stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $235.45, for a total value of $3,987,816.65. Following the sale, the chief technology officer owned 274,763 shares in the company, valued at $64,692,948.35. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Ryan sold 50,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $265.53, for a total transaction of $13,276,500.00. Following the transaction, the director directly owned 272,533 shares in the company, valued at approximately $72,365,687.49. The trade was a 15.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 182,587 shares of company stock valued at $43,618,456 over the last three months.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Nebius Group by 16.0% in the second quarter. BlackRock Inc. now owns 11,531,270 shares of the company’s stock worth $3,184,591,000 after purchasing an additional 1,593,684 shares during the period. Situational Awareness LP purchased a new position in shares of Nebius Group during the second quarter valued at approximately $1,232,895,000. State Street Corp boosted its position in shares of Nebius Group by 16.2% in the 2nd quarter. State Street Corp now owns 4,069,875 shares of the company’s stock worth $1,123,977,000 after purchasing an additional 568,415 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Nebius Group by 134.3% in the 2nd quarter. Jennison Associates LLC now owns 3,983,899 shares of the company’s stock worth $1,100,233,000 after buying an additional 2,283,676 shares during the last quarter. Finally, Accel Leaders 4 Associates L.P. purchased a new stake in shares of Nebius Group in the 2nd quarter worth approximately $1,012,097,322. Institutional investors own 21.90% of the company’s stock.

About Nebius Group

Nebius Group N.V. is a technology company focused on artificial intelligence infrastructure and related services. Through its Nebius AI business, the company provides cloud-based computing infrastructure designed for developing, training and deploying machine-learning and generative AI applications, including access to accelerated computing, data storage, networking and managed cloud services.

The company also develops tools and services intended to support AI developers and businesses, including data and machine-learning infrastructure.