Nebius Group (NASDAQ:NBIS) Trading Down 2.3% - What's Next?

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) dropped 2.3% during mid-day trading on Friday . The company traded as low as $35.71 and last traded at $36.72. Approximately 2,270,093 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 6,853,706 shares. The stock had previously closed at $37.59.

Wall Street Analysts Forecast Growth

Separately, BWS Financial began coverage on Nebius Group in a research report on Monday. They set a "buy" rating and a $51.00 price target on the stock.

Nebius Group Stock Performance

The firm has a market cap of $13.03 billion, a PE ratio of -63.23 and a beta of 2.63. The stock's 50-day simple moving average is $27.89.

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.