Nebius Group (NASDAQ:NBIS) Shares Up 7.5% – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS) shares rose 7.5% during mid-day trading on Tuesday . The company traded as high as $28.89 and last traded at $28.03. Approximately 10,766,264 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 10,080,719 shares. The stock had previously closed at $26.08.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $51.00 price target on shares of Nebius Group in a report on Tuesday.

Nebius Group Stock Up 7.0 %

The stock has a 50-day simple moving average of $30.60. The company has a market cap of $7.49 billion, a P/E ratio of -55.79 and a beta of 2.63.

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.