12 Best Software Stocks to Buy According to Analysts

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4. Nebius Group N.V. (NASDAQ:NBIS)

Stock Price: $37.02

Number of Hedge Fund Holders: NA

Analyst Upside Potential: 107.69%

Nebius Group N.V. (NASDAQ:NBIS) is one of the best software stocks to buy according to analysts. Based in the Netherlands the company focuses on building infrastructure for artificial intelligence. The company operates through its brands including Toloka, TripleTen, and Avride providing powerful computing resources, storage solutions, and cloud platforms tailored for AI workloads.

On January 13, Hamed Khorsand, analyst at BWS Financial initiated a Buy rating on the stock, setting a price target of $51. Khorsand expressed his bullish sentiment for Nebius Group N.V. (NASDAQ:NBIS) stating that the company is set to grow with the rising demand for artificial intelligence. The fiscal third-quarter results of 2024, back the observation of Khorsand as the company saw a 1.7 times quarter-over-quarter increase in its revenue. The increase was driven by a robust performance in its AI infrastructure business which grew 6.5 times year-over-year.

Moreover, Nebius Group N.V. (NASDAQ:NBIS) is making significant strides in the US market by launching its first NVIDIA GPU cluster in Kansas City. The GPU cluster which will be located in Kansas City, Missouri, and is designed to initially house thousands of NVIDIA H200 Tensor Core GPUs is scheduled to go live in the first quarter of 2025.

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