NU (NYSE:NU) Sets New 52-Week High – What’s Next?

Nu Holdings Ltd. (NYSE:NU) shares hit a new 52-week high during trading on Monday . The stock traded as high as $17.99 and last traded at $17.9350, with a volume of 26455021 shares trading hands. The stock had previously closed at $17.02.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NU. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NU in a report on Wednesday, October 8th. KeyCorp boosted their target price on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 price target on shares of NU in a report on Thursday, December 18th. UBS Group boosted their price objective on shares of NU from $16.00 to $18.40 and gave the company a “neutral” rating in a report on Thursday, December 4th. Finally, Santander upgraded shares of NU from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 4th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.04.

NU Trading Up 5.4%

The stock has a 50 day moving average of $16.44 and a 200-day moving average of $14.94. The company has a market capitalization of $86.42 billion, a P/E ratio of 35.17, a P/E/G ratio of 0.57 and a beta of 1.08. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

NU (NYSE:NU) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.96 billion. NU had a net margin of 17.97% and a return on equity of 30.12%. On average, research analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Hedge Funds Weigh In On NU

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in NU in the 2nd quarter worth approximately $626,569,000. Lone Pine Capital LLC bought a new stake in shares of NU during the third quarter valued at approximately $406,757,000. Marshall Wace LLP raised its position in shares of NU by 98.4% during the third quarter. Marshall Wace LLP now owns 29,141,505 shares of the company’s stock valued at $466,555,000 after buying an additional 14,449,834 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of NU by 276.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 18,416,144 shares of the company’s stock worth $294,842,000 after buying an additional 13,529,278 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of NU by 182.9% during the third quarter. William Blair Investment Management LLC now owns 19,449,424 shares of the company’s stock worth $311,385,000 after acquiring an additional 12,574,893 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

About NU

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.