NU’s (NU) “Buy” Rating Reiterated at Needham & Company LLC

NU (NYSE:NU)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They currently have a $19.00 price objective on the stock. Needham & Company LLC‘s price target points to a potential upside of 60.41% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Itau BBA Securities downgraded NU from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $20.00 to $18.00 in a research note on Wednesday, September 16th. UBS Group boosted their price target on NU from $18.20 to $20.50 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Susquehanna upped their price target on NU from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Weiss Ratings upgraded NU from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Wolfe Research lowered their price objective on NU from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 25th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.25.

NU Price Performance

Shares of NYSE:NU opened at $11.85 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. NU has a 1 year low of $11.20 and a 1 year high of $18.98. The business has a fifty day simple moving average of $13.81 and a 200 day simple moving average of $14.25. The firm has a market cap of $57.52 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 0.51 and a beta of 0.97.

NU (NYSE:NU) last released its quarterly earnings data on Thursday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). NU had a net margin of 18.65% and a return on equity of 31.59%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same period in the previous year, the business posted $0.16 EPS. As a group, sell-side analysts predict that NU will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Cristina Junqueira sold 65,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $14.71, for a total transaction of $956,150.00. Following the completion of the transaction, the chief executive officer owned 2,542,083 shares of the company’s stock, valued at approximately $37,394,040.93. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 115,000 shares of company stock worth $1,706,400. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of NU

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its position in NU by 8.6% in the first quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock worth $660,545,000 after purchasing an additional 3,656,945 shares during the period. Assenagon Asset Management S.A. increased its holdings in NU by 127.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 38,263,897 shares of the company’s stock valued at $484,421,000 after buying an additional 21,405,374 shares during the period. Maverick Capital Ltd. increased its holdings in NU by 91.6% in the 1st quarter. Maverick Capital Ltd. now owns 22,444,311 shares of the company’s stock valued at $322,525,000 after buying an additional 10,729,747 shares during the period. Squadra Investments Gestao DE Recursos LTDA. raised its stake in shares of NU by 266.8% in the 1st quarter. Squadra Investments Gestao DE Recursos LTDA. now owns 22,312,501 shares of the company’s stock valued at $320,631,000 after buying an additional 16,229,515 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its stake in shares of NU by 24.8% in the 1st quarter. Coronation Fund Managers Ltd. now owns 17,973,549 shares of the company’s stock valued at $258,280,000 after buying an additional 3,570,451 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors.

Latest NU News

These are some of the NU news items that stood out recently:

• Positive Sentiment: Revenue was $6.26 billion, topping the $5.96 billion analyst estimate, while earnings per share of $0.22 were up from $0.16 a year earlier. The revenue beat and year-over-year EPS growth support the growth case. Nu Holdings Q3 revenue beats as it embarks on global expansion
• Positive Sentiment: Management pointed to global expansion and said the company’s new banking status makes its proposition “even more compelling”—potentially strengthening its ability to attract and serve customers. NU Stock Rises Overnight On Strong Q3 Results
• Neutral Sentiment: EPS estimates differed across reports: one cited $0.22 as in line with consensus, while another compared it with a $0.23 estimate, making the result a slight miss. This tempers, but does not erase, the revenue beat. Nu Holdings earnings report

NU Company Profile

Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products. Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country. Nu serves customers in Brazil, Mexico, and Colombia.