NU (NYSE:NU) Releases Earnings Results, Beats Expectations By $0.02 EPS

NU (NYSE:NU) announced its quarterly earnings data on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02, Zacks reports. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $3.96 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.

NU Stock Up 3.0%

NYSE:NU traded up $0.48 during midday trading on Friday, reaching $16.07. 45,136,278 shares of the stock traded hands, compared to its average volume of 52,932,383. NU has a 12-month low of $9.01 and a 12-month high of $16.55. The business has a 50-day moving average of $15.65 and a two-hundred day moving average of $13.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $77.41 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 0.83 and a beta of 1.08.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NU shares. JPMorgan Chase & Co. upped their target price on NU from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of NU in a report on Wednesday, October 8th. Bradesco Corretora raised shares of NU to an “outperform” rating and set a $17.00 target price on the stock in a research report on Monday, August 25th. Itau BBA Securities raised shares of NU from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a research report on Monday, August 18th. Finally, Susquehanna increased their price objective on shares of NU from $17.00 to $19.00 and gave the company a “positive” rating in a research note on Friday. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.33.

Institutional Trading of NU

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in NU by 63.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after buying an additional 1,464 shares in the last quarter. Main Street Financial Solutions LLC acquired a new position in shares of NU during the second quarter valued at about $187,000. Rafferty Asset Management LLC raised its position in shares of NU by 38.0% in the 2nd quarter. Rafferty Asset Management LLC now owns 16,202 shares of the company’s stock valued at $222,000 after purchasing an additional 4,459 shares during the last quarter. Nebula Research & Development LLC boosted its stake in NU by 63.7% in the 2nd quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock worth $274,000 after purchasing an additional 7,760 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in NU by 1,361.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 20,392 shares of the company’s stock worth $280,000 after purchasing an additional 18,997 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

About NU

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.