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

NU (NYSE:NU)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They presently have a $19.00 price objective on the stock. Needham & Company LLC‘s price objective would suggest a potential upside of 60.41% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. UBS Group lifted their price target on NU from $18.20 to $20.50 and gave the company a “buy” rating in a research report on Tuesday, October 20th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $20.00 to $18.00 in a report on Wednesday, September 16th. Weiss Ratings upgraded shares of NU from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on NU from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. Finally, Monness Crespi & Hardt began coverage on NU in a research report on Monday, October 26th. They set a “buy” rating and a $20.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NU presently has an average rating of “Moderate Buy” and an average price target of $18.25.

NU Stock Performance

Shares of NU stock opened at $11.85 on Friday. NU has a 12-month low of $11.20 and a 12-month high of $18.98. The firm has a market capitalization of $57.52 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.97. The business has a 50 day simple moving average of $13.81 and a 200 day simple moving average of $14.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.55.

NU (NYSE:NU) last announced its earnings results on Thursday, November 12th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.96 billion. NU had a net margin of 18.65% and a return on equity of 31.59%. During the same period in the previous year, the firm earned $0.16 EPS. On average, equities research analysts anticipate that NU will post 0.85 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Cristina Junqueira sold 65,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $14.71, for a total value of $956,150.00. Following the completion of the sale, the chief executive officer owned 2,542,083 shares in the company, valued at $37,394,040.93. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 115,000 shares of company stock worth $1,706,400. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NU. Waverly Advisors LLC lifted its stake in NU by 6.4% in the 2nd quarter. Waverly Advisors LLC now owns 12,933 shares of the company’s stock worth $173,000 after acquiring an additional 783 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in NU by 1.9% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 50,790 shares of the company’s stock valued at $679,000 after acquiring an additional 935 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of NU by 7.9% in the 3rd quarter. Global Retirement Partners LLC now owns 13,872 shares of the company’s stock valued at $176,000 after purchasing an additional 1,018 shares during the period. Harbor Investment Advisory LLC increased its holdings in shares of NU by 68.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company’s stock valued at $40,000 after purchasing an additional 1,220 shares during the period. Finally, AlTi Global Inc. increased its holdings in shares of NU by 2.0% in the 1st quarter. AlTi Global Inc. now owns 65,411 shares of the company’s stock valued at $940,000 after purchasing an additional 1,275 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

More NU News

Investors following NU have been watching these news items:

• 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
• Negative Sentiment: NU had recently fallen about 21% in a month and was trading near its 52-week low, reflecting weak recent momentum and potentially leaving investors cautious despite the results. Nu Holdings Stock Has Fallen 21% in a Month

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.