Nebius Group (NASDAQ:NBIS) Stock Price Up 0.8% – Time to Buy?

Nebius Group N.V. (NASDAQ:NBIS)’s stock price shot up 0.8% during trading on Wednesday . The company traded as high as $31.18 and last traded at $29.86. 4,977,905 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 10,115,328 shares. The stock had previously closed at $29.61.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NBIS. BWS Financial reissued a “buy” rating and set a $60.00 target price on shares of Nebius Group in a research note on Tuesday. DA Davidson assumed coverage on Nebius Group in a report on Tuesday, February 25th. They set a “buy” rating and a $50.00 price target for the company.

Nebius Group Price Performance

The firm has a market capitalization of $6.59 billion, a PE ratio of -49.10 and a beta of 2.47. The business’s 50 day moving average is $34.94.

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.