Nebius Group (NASDAQ:NBIS) Stock Price Down 7.6% – What’s Next?

Nebius Group N.V. (NASDAQ:NBIS)’s stock price dropped 7.6% during mid-day trading on Monday . The stock traded as low as $25.80 and last traded at $25.87. Approximately 4,783,918 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 10,217,477 shares. The stock had previously closed at $27.99.

Wall Street Analysts Forecast Growth

NBIS has been the subject of a number of analyst reports. BWS Financial reaffirmed a “buy” rating and set a $60.00 price objective on shares of Nebius Group in a research note on Tuesday, March 4th. DA Davidson started coverage on Nebius Group in a research report on Tuesday, February 25th. They set a “buy” rating and a $50.00 target price for the company.

Nebius Group Price Performance

The stock has a market capitalization of $5.99 billion, a P/E ratio of -44.65 and a beta of 2.47. The company has a 50-day simple moving average of $34.90.

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.