Nebius Group (NASDAQ:NBIS) Shares Down 2% – What’s Next?

Nebius Group N.V. (NASDAQ:NBIS) was down 2% during mid-day trading on Thursday . The stock traded as low as $96.50 and last traded at $96.85. Approximately 10,140,482 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 12,776,196 shares. The stock had previously closed at $98.87.

Wall Street Analysts Forecast Growth

NBIS has been the subject of a number of recent research reports. Weiss Ratings lowered Nebius Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, January 15th. Morgan Stanley assumed coverage on shares of Nebius Group in a research report on Thursday, January 15th. They issued an “equal weight” rating and a $126.00 price objective for the company. CICC Research initiated coverage on shares of Nebius Group in a research note on Tuesday, November 11th. They set an “outperform” rating and a $143.00 price objective on the stock. Citizens Jmp started coverage on shares of Nebius Group in a research note on Wednesday, November 19th. They issued a “market outperform” rating and a $175.00 target price for the company. Finally, Wall Street Zen lowered shares of Nebius Group from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.38.

Nebius Group Stock Performance

The company has a market capitalization of $24.39 billion, a PE ratio of -125.78 and a beta of 4.00. The company has a 50 day moving average price of $93.02 and a 200 day moving average price of $88.62.

Institutional Investors Weigh In On Nebius Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Orbis Allan Gray Ltd grew its stake 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 in the last quarter. Fred Alger Management LLC raised its stake in Nebius Group by 33.4% during the third quarter. Fred Alger Management LLC now owns 10,132,279 shares of the company’s stock valued at $1,137,551,000 after buying an additional 2,536,832 shares in the last quarter. Jericho Capital Asset Management L.P. grew its position in shares of Nebius Group by 55.7% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 4,607,497 shares of the company’s stock worth $517,284,000 after acquiring an additional 1,648,497 shares in the last quarter. Invesco Ltd. grew its position in shares of Nebius Group by 2.7% in the 2nd quarter. Invesco Ltd. now owns 3,587,811 shares of the company’s stock worth $198,514,000 after acquiring an additional 92,710 shares in the last quarter. Finally, Rovida Investment Management Ltd increased its holdings in shares of Nebius Group by 26.0% in the 3rd quarter. Rovida Investment Management Ltd now owns 2,193,647 shares of the company’s stock valued at $246,193,000 after acquiring an additional 453,000 shares during the last quarter. Institutional investors own 21.90% of the company’s stock.

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.