Nebius Group (NASDAQ:NBIS) Shares Down 7.8% – Here’s What Happened

Nebius Group N.V. (NASDAQ:NBIS) shares dropped 7.8% on Thursday . The company traded as low as $26.25 and last traded at $27.81. Approximately 8,666,993 shares were traded during trading, a decline of 15% from the average daily volume of 10,171,692 shares. The stock had previously closed at $30.17.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. DA Davidson began coverage on shares of Nebius Group in a report on Tuesday, February 25th. They set a “buy” rating and a $50.00 price target on the stock. BWS Financial restated a “buy” rating and issued a $60.00 target price on shares of Nebius Group in a research note on Tuesday.

Nebius Group Price Performance

The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -47.31 and a beta of 2.57. The business’s fifty day moving average price is $34.97.

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.