Nebius Group (NASDAQ:NBIS) Shares Gap Down – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $30.17, but opened at $27.77. Nebius Group shares last traded at $27.68, with a volume of 4,881,836 shares trading hands.

Wall Street Analysts Forecast Growth

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

Nebius Group Stock Performance

The firm has a market cap of $6.59 billion, a PE ratio of -49.11 and a beta of 2.47. The business’s 50 day simple 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.