Nebius Group (NASDAQ:NBIS) Shares Up 10.5% – Should You Buy?

Nebius Group N.V. (NASDAQ:NBIS)’s stock price shot up 10.5% during mid-day trading on Wednesday . The stock traded as high as $37.37 and last traded at $37.81. 4,649,785 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 13,315,890 shares. The stock had previously closed at $34.21.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. DA Davidson assumed coverage on Nebius Group in a research note on Tuesday. They issued a “buy” rating and a $50.00 price target on the stock. BWS Financial increased their price target on shares of Nebius Group from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, February 21st.

Nebius Group Trading Up 9.6 %

The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of -65.54 and a beta of 2.58. The firm has a fifty day simple moving average of $34.52.

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.