Analysts Set Nu Holdings Ltd. (NYSE:NU) Price Target at $17.24

Nu Holdings Ltd. (NYSE:NU) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.2417.

NU has been the subject of several recent analyst reports. Susquehanna downgraded shares of NU from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their price target on shares of NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Scotiabank downgraded shares of NU to a “sector perform” rating and set a $13.00 price target for the company. in a research note on Wednesday, June 3rd. Finally, CICC Research initiated coverage on shares of NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price objective on the stock.

NU Stock Performance

Shares of NU stock opened at $13.81 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $13.32 and a two-hundred day moving average price of $14.49. NU has a 1-year low of $11.20 and a 1-year high of $18.98. The company has a market cap of $67.04 billion, a P/E ratio of 21.24, a PEG ratio of 0.57 and a beta of 0.94.

NU (NYSE:NU) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. NU had a net margin of 18.20% and a return on equity of 30.91%. As a group, analysts anticipate that NU will post 0.83 EPS for the current year.

NU announced that its Board of Directors has approved a stock buyback plan on Thursday, June 4th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the transaction, the director directly owned 162,150 shares of the company’s stock, valued at approximately $1,984,716. This represents a 11.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On NU

Several hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in shares of NU by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 257,256,952 shares of the company’s stock worth $4,306,481,000 after purchasing an additional 5,797,365 shares in the last quarter. Morgan Stanley raised its holdings in NU by 2.9% during the fourth quarter. Morgan Stanley now owns 121,350,701 shares of the company’s stock worth $2,031,411,000 after buying an additional 3,419,077 shares during the last quarter. State Street Corp raised its holdings in NU by 0.3% during the third quarter. State Street Corp now owns 91,478,395 shares of the company’s stock worth $1,464,569,000 after buying an additional 239,660 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of NU by 8.6% in the first quarter. Bank of America Corp DE now owns 45,966,932 shares of the company’s stock valued at $660,545,000 after buying an additional 3,656,945 shares in the last quarter. Finally, Norges Bank bought a new position in shares of NU in the fourth quarter valued at $763,792,000. Institutional investors own 84.02% of the company’s stock.

NU Company Profile

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.