Nebius Group (NASDAQ:NBIS) Shares Down 9% – Here’s Why

Nebius Group N.V. (NASDAQ:NBIS)’s stock price was down 9% during mid-day trading on Friday . The company traded as low as $41.45 and last traded at $42.07. Approximately 8,349,519 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 12,839,450 shares. The stock had previously closed at $46.25.

Analysts Set New Price Targets

Separately, BWS Financial lifted their price target on shares of Nebius Group from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday.

Nebius Group Price Performance

The stock has a 50-day moving average price of $34.19. The firm has a market cap of $9.41 billion, a PE ratio of -69.91 and a beta of 2.57.

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.