NU (NYSE:NU) Given New $19.00 Price Target at Needham & Company LLC

NU (NYSE:NU) had its price target boosted by Needham & Company LLC from $17.00 to $19.00 in a report released on Friday, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities research analysts have also commented on NU. JPMorgan Chase & Co. upped their price objective on NU from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Bank of America reiterated an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. UBS Group reduced their target price on shares of NU from $18.10 to $16.90 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Susquehanna downgraded NU from a “positive” rating to a “neutral” rating and cut their target price for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Finally, Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a research report on Wednesday, June 3rd. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NU has an average rating of “Moderate Buy” and a consensus price target of $17.66.

NU Price Performance

Shares of NYSE:NU opened at $15.25 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.58. The business has a 50-day simple moving average of $13.51 and a two-hundred day simple moving average of $14.38. NU has a fifty-two week low of $11.20 and a fifty-two week high of $18.98. The firm has a market cap of $74.03 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94.

NU (NYSE:NU) last issued its earnings results on Tuesday, June 30th. The company reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $5.88 billion for the quarter. NU had a net margin of 18.65% and a return on equity of 32.81%. On average, analysts expect that NU will post 0.83 earnings per share for the current year.

NU declared that its board has initiated a share repurchase program on Thursday, June 4th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of NU

A number of hedge funds have recently added to or reduced their stakes in the business. Maxi Investments CY Ltd boosted its position in NU by 85.5% during the fourth quarter. Maxi Investments CY Ltd now owns 783,000 shares of the company’s stock valued at $13,107,000 after purchasing an additional 361,000 shares in the last quarter. C WorldWide Group Holding A S lifted its position in NU by 1,045.3% during the fourth quarter. C WorldWide Group Holding A S now owns 311,792 shares of the company’s stock valued at $5,219,000 after acquiring an additional 284,569 shares during the last quarter. Vanguard Group Inc. boosted its stake in NU by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 24,814,878 shares of the company’s stock valued at $415,401,000 after acquiring an additional 1,037,438 shares in the last quarter. Genoa Capital Gestora de Recursos Ltda. purchased a new position in NU in the fourth quarter worth $3,869,000. Finally, Dimensional Fund Advisors LP grew its holdings in NU by 990.3% in the first quarter. Dimensional Fund Advisors LP now owns 298,789 shares of the company’s stock worth $4,294,000 after purchasing an additional 271,385 shares during the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Key NU News

Here are the key news stories impacting NU this week:

• Positive Sentiment: Record profitability: Second-quarter net income exceeded $1 billion, up 49% year over year, while revenue rose 39% to approximately $5.9 billion. Adjusted earnings of $0.22 per share surpassed the $0.20 consensus estimate, and revenue also topped expectations. Nubank quarterly net profit beats estimates
• Positive Sentiment: Strong operating metrics: NU’s customer base reached 139 million, activity rates improved and monthly revenue per active customer increased 22% year over year. Risk-adjusted profit margin reached a record 12.4%, supported by credit growth, risk controls and low costs per customer. Nu Holdings Q2 analysis
• Positive Sentiment: Growth outlook remains favorable: Management said margins could remain near current levels as artificial intelligence improves efficiency, credit performance remains resilient and the company expands its banking operation in Mexico. NU Q2 earnings call focuses on margins, AI and Mexico
• Positive Sentiment: Analyst and trading support: Needham raised its price target from $17 to $19 and maintained a Buy rating. Unusually heavy call-option activity also indicates increased bullish positioning, although it may add short-term volatility. Needham raises NU price target

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.