NU (NYSE:NU) Stock Price Up 1.6% – Here’s Why

Nu Holdings Ltd. (NYSE:NU) shares rose 1.6% during mid-day trading on Thursday . The company traded as high as $15.00 and last traded at $14.98. Approximately 3,430,238 shares were traded during trading, a decline of 89% from the average daily volume of 32,133,047 shares. The stock had previously closed at $14.75.

Analysts Set New Price Targets

NU has been the topic of several research reports. The Goldman Sachs Group raised their price target on NU from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Bank of America upped their price target on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Barclays boosted their price objective on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, UBS Group lowered NU from a “buy” rating to a “neutral” rating and set a $13.50 price target for the company. in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.21.

NU Price Performance

The stock has a 50-day moving average price of $14.26 and a two-hundred day moving average price of $12.77. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market cap of $71.20 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 0.66 and a beta of 1.15.

NU (NYSE:NU) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same quarter in the previous year, the firm earned $0.05 earnings per share. As a group, equities research analysts forecast that Nu Holdings Ltd. will post 0.41 EPS for the current year.

Institutional Trading of NU

Several large investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in NU by 1,074.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 131,136 shares of the company’s stock worth $1,790,000 after buying an additional 119,972 shares during the period. Public Investment Fund increased its stake in shares of NU by 223.1% in the second quarter. Public Investment Fund now owns 3,802,480 shares of the company’s stock worth $49,014,000 after acquiring an additional 2,625,500 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of NU during the first quarter worth $152,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in NU during the first quarter valued at $1,958,000. Finally, Handelsbanken Fonder AB boosted its holdings in NU by 1,774.8% in the third quarter. Handelsbanken Fonder AB now owns 907,417 shares of the company’s stock valued at $12,386,000 after purchasing an additional 859,017 shares during the last quarter. Hedge funds and other institutional investors own 80.90% of the company’s stock.

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.