Nebius Group (NASDAQ:NBIS) Trading Up 0.8% – What’s Next?

Nebius Group N.V. (NASDAQ:NBIS) shares shot up 0.8% during mid-day trading on Wednesday . The company traded as high as $31.18 and last traded at $29.86. 4,977,905 shares changed 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 research firms have commented on NBIS. DA Davidson started coverage on shares of Nebius Group in a research report on Tuesday, February 25th. They set a “buy” rating and a $50.00 price target on the stock. BWS Financial reissued a “buy” rating and set a $60.00 target price on shares of Nebius Group in a report on Tuesday.

Nebius Group Stock Performance

The stock’s 50 day moving average price is $34.93. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of -52.70 and a beta of 2.57.

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.