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We recently published a list of 10 Firms Dominate Monday Upsurge. In this article, we are going to take a look at where Nebius Group N.V. (NASDAQ:NBIS) stands against other firms that dominated Monday upsurge.
Ten companies—predominantly in the healthcare sector—kicked off Monday’s trading with notable gains amid a series of business updates, earnings, and acquisition deals that have fueled investor confidence.
Their gains outperformed mixed trading on Wall Street, with the Dow Jones and S&P’s main index the only gainers, up 0.86 percent and 0.16 percent, respectively. Meanwhile, the Nasdaq Composite dropped by 0.38 percent.
In this article, we will take a look at what buoyed the companies’ share prices.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
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Nebius Group N.V. (NASDAQ:NBIS)
Nebius Group’s (NASDAQ:NBIS) shares rallied by 7.66 percent on Monday to finish at $35.72 apiece after an investment research firm initiated a favorable outlook on the company.
In a report on Monday, BWS Financial gave Nebius Group N.V. (NASDAQ:NBIS) a favorable outlook with a “buy” rating and a price target of $51 each.
Nebius Group N.V. (NASDAQ:NBIS), an artificial intelligence company, has been recognized for its ownership of a data center in Finland along with co-location facilities in Paris and Kansas City. The company also recently gained investor confidence after Nvidia Corp. (NVDA), a leader in AI computing, backed the company.
Analysts said investors cheered Nvidia’s investment in Nebius in hopes that it would propel the latter’s growth similar to SoundHound AI, which in the past year alone, saw its shares surge by more than 600 percent, thanks to the booming AI sector.
Overall, NBIS ranks 6th on our list of firms that dominate Monday upsurge. While we acknowledge the potential of NBIS, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NBIS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.