JPMorgan Chase & Co. Downgrades NU (NYSE:NU) to Neutral

JPMorgan Chase & Co. cut shares of NU (NYSE:NU) from an overweight rating to a neutral rating in a research note issued to investors on Monday, MarketBeat.com reports. They currently have $14.50 target price on the stock, up from their previous target price of $12.00.

NU has been the topic of several other research reports. The Goldman Sachs Group upped their price target on NU from $15.00 to $17.00 and gave the company a buy rating in a report on Thursday, July 11th. KeyCorp upped their price target on NU from $12.00 to $13.00 and gave the company an overweight rating in a report on Monday, April 22nd. Susquehanna upped their price target on NU from $14.00 to $16.00 and gave the company a positive rating in a report on Tuesday, July 16th. Jefferies Financial Group upped their price target on NU from $10.80 to $15.20 and gave the company a buy rating in a report on Monday, June 24th. Finally, Barclays began coverage on NU in a report on Wednesday, June 26th. They issued an overweight rating and a $15.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $12.98.

NU Price Performance

Shares of NYSE:NU opened at $12.37 on Monday. NU has a 12 month low of $6.61 and a 12 month high of $13.64. The stock has a market cap of $58.95 billion, a price-to-earnings ratio of 47.58, a PEG ratio of 0.61 and a beta of 1.14. The stock’s 50 day moving average price is $12.31 and its 200 day moving average price is $11.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.40 and a quick ratio of 0.40.

NU (NYSE:NU) last announced its earnings results on Tuesday, May 14th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. NU had a return on equity of 22.94% and a net margin of 13.86%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Equities research analysts anticipate that NU will post 0.41 earnings per share for the current fiscal year.

Institutional Trading of NU

Several large investors have recently added to or reduced their stakes in NU. WCM Investment Management LLC grew its holdings in shares of NU by 1,157.4% during the 1st quarter. WCM Investment Management LLC now owns 99,965,627 shares of the company’s stock valued at $1,192,590,000 after acquiring an additional 92,015,719 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of NU by 47.6% during the 1st quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock valued at $2,021,540,000 after acquiring an additional 54,681,625 shares in the last quarter. Sands Capital Management LLC grew its holdings in shares of NU by 92.7% during the 4th quarter. Sands Capital Management LLC now owns 85,220,661 shares of the company’s stock valued at $709,888,000 after acquiring an additional 40,992,413 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of NU by 160.9% during the 4th quarter. Jennison Associates LLC now owns 65,813,072 shares of the company’s stock valued at $548,223,000 after acquiring an additional 40,584,189 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of NU by 20.7% during the 4th quarter. Capital Research Global Investors now owns 175,197,344 shares of the company’s stock valued at $1,459,403,000 after acquiring an additional 30,002,685 shares in the last quarter. 80.90% of the stock is owned by institutional investors and hedge funds.

NU Company Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.