JPMorgan Chase & Co. Downgrades NU (NYSE:NU) to Neutral

JPMorgan Chase & Co. lowered shares of NU (NYSE:NU) from an overweight rating to a neutral rating in a report released on Monday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $14.50 target price on the stock, up from their prior target price of $12.00.

Several other equities research analysts have also weighed in on the stock. Jefferies Financial Group increased their target price on shares of NU from $10.80 to $15.20 and gave the stock a buy rating in a report on Monday, June 24th. The Goldman Sachs Group increased their target price on shares of NU from $15.00 to $17.00 and gave the stock a buy rating in a report on Thursday, July 11th. Barclays started coverage on shares of NU in a report on Wednesday, June 26th. They issued an overweight rating and a $15.00 target price on the stock. Susquehanna increased their target price on shares of NU from $14.00 to $16.00 and gave the stock a positive rating in a report on Tuesday, July 16th. Finally, KeyCorp raised their price objective on shares of NU from $12.00 to $13.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $12.98.

NU Trading Down 1.4 %

NU opened at $12.37 on Monday. The firm’s fifty day moving average is $12.31 and its two-hundred day moving average is $11.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $58.95 billion, a PE ratio of 47.58, a price-to-earnings-growth ratio of 0.61 and a beta of 1.14. NU has a twelve month low of $6.61 and a twelve month high of $13.64.

NU (NYSE:NU) last posted its earnings results on Tuesday, May 14th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.58 billion. NU had a net margin of 13.86% and a return on equity of 22.94%. Equities research analysts anticipate that NU will post 0.41 EPS for the current year.

Institutional Investors Weigh In On NU

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in NU by 56.2% in the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock valued at $29,000 after purchasing an additional 815 shares in the last quarter. ORG Partners LLC bought a new position in NU in the second quarter valued at $54,000. Tennessee Valley Asset Management Partners bought a new position in NU in the fourth quarter valued at $52,000. UMB Bank n.a. bought a new position in NU in the fourth quarter valued at $55,000. Finally, Opal Wealth Advisors LLC bought a new position in NU in the second quarter valued at $88,000. 80.90% of the stock is currently owned by institutional investors and hedge funds.

NU Company Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.