Shares of Nebius Group (NBIS) are skyrocketing 14.79% in early trading on Monday, following a bullish initiation from Goldman Sachs, a leading global investment banking firm. The stock's significant uptick comes as investors react enthusiastically to the new analyst coverage and positive outlook for the company.

Goldman Sachs has initiated coverage of Nebius Group with a Buy rating and a price target of $68. This move signals strong confidence in Nebius's future prospects and potential for growth. Analyst ratings, especially from prominent firms like Goldman Sachs, often have a substantial impact on investor sentiment and stock performance. The Buy rating suggests that Goldman Sachs analysts believe Nebius Group's stock may outperform the market in the coming period.

The initiation of coverage by Goldman Sachs adds to the overall positive sentiment surrounding Nebius Group. According to FactSet, the company now has an average rating of Buy from analysts, with a mean price target of $66.80. This consensus, combined with the new Goldman Sachs coverage, appears to be driving significant investor interest and contributing to the stock's dramatic rise in early trading. As the market digests this new information, investors will be closely watching Nebius Group's performance in the coming days and weeks.