Nebius Group (NASDAQ:NBIS) Shares Down 7% Following Weak Earnings

Nebius Group N.V. (NASDAQ:NBIS)’s share price traded down 7% on Tuesday following a dissappointing earnings announcement. The stock traded as low as $66.77 and last traded at $67.44. 4,979,896 shares were traded during mid-day trading, a decline of 61% from the average session volume of 12,901,383 shares. The stock had previously closed at $72.54.

The company reported ($0.48) earnings per share (EPS) for the quarter. The firm had revenue of $55.30 million for the quarter. The firm’s revenue for the quarter was up 385 compared to the same quarter last year. During the same period last year, the firm posted ($0.25) earnings per share.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Arete assumed coverage on shares of Nebius Group in a report on Thursday, June 5th. They issued a “buy” rating and a $84.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Nebius Group in a report on Monday, July 14th. They issued a “buy” rating and a $68.00 target price for the company. Northland Securities set a $47.00 target price on shares of Nebius Group and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Arete Research upgraded shares of Nebius Group to a “strong-buy” rating in a report on Thursday, June 5th. Finally, Wall Street Zen lowered shares of Nebius Group from a “hold” rating to a “sell” rating in a report on Sunday. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $70.80.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. purchased a new position in Nebius Group during the 2nd quarter valued at about $660,000. State of Wyoming increased its position in Nebius Group by 548,800.0% during the 2nd quarter. State of Wyoming now owns 10,978 shares of the company’s stock valued at $607,000 after purchasing an additional 10,976 shares during the period. Liontrust Investment Partners LLP purchased a new position in Nebius Group during the 2nd quarter valued at about $24,898,000. Geneos Wealth Management Inc. increased its position in Nebius Group by 168.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,410 shares of the company’s stock valued at $133,000 after purchasing an additional 1,512 shares during the period. Finally, Hollencrest Capital Management purchased a new position in Nebius Group during the 2nd quarter valued at about $117,000. Hedge funds and other institutional investors own 21.90% of the company’s stock.

Nebius Group Stock Down 7.4%

The company has a current ratio of 14.70, a quick ratio of 14.70 and a debt-to-equity ratio of 0.31. The firm has a market cap of $15.84 billion, a PE ratio of -117.88 and a beta of 3.36. The business’s 50-day simple moving average is $54.20 and its 200 day simple moving average is $39.15.

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.