Nebius Group (NASDAQ:NBIS) Shares Down 2.9% - Here's Why

Nebius Group N.V. (NASDAQ:NBIS - Get Free Report) was down 2.9% on Wednesday . The company traded as low as $39.28 and last traded at $40.21. Approximately 3,446,039 shares traded hands during trading, a decline of 68% from the average daily volume of 10,618,841 shares. The stock had previously closed at $41.42.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a "buy" rating and issued a $51.00 target price on shares of Nebius Group in a research report on Tuesday, January 28th.

Nebius Group Trading Up 6.7 %

The company's 50-day moving average is $33.36. The stock has a market capitalization of $10.48 billion, a P/E ratio of -78.05 and a beta of 2.57.

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.