Bank of America Increases NU (NYSE:NU) Price Target to $15.00

NU (NYSE:NU) had its price objective lifted by Bank of America from $12.80 to $15.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on NU. Jefferies Financial Group raised their price objective on shares of NU from $10.80 to $15.20 and gave the stock a buy rating in a report on Monday, June 24th. Barclays lifted their price objective on NU from $15.00 to $17.00 and gave the company an overweight rating in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on NU from $14.50 to $15.00 and gave the stock a neutral rating in a report on Monday, August 19th. UBS Group downgraded NU from a buy rating to a neutral rating and set a $13.50 target price for the company. in a research report on Friday, August 2nd. Finally, Susquehanna reiterated a positive rating and issued a $16.00 price target on shares of NU in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $14.08.

NU Trading Up 1.6 %

Shares of NU opened at $14.74 on Thursday. The stock’s 50-day moving average price is $13.32 and its 200 day moving average price is $12.27. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $70.25 billion, a price-to-earnings ratio of 56.69, a P/E/G ratio of 0.68 and a beta of 1.17. NU has a 12-month low of $6.77 and a 12-month high of $15.10.

NU (NYSE:NU) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period in the previous year, the business posted $0.05 earnings per share. As a group, research analysts predict that NU will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On NU

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NU. GAMMA Investing LLC grew its stake in shares of NU by 56.2% during 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 during the last quarter. Stokes Family Office LLC lifted its holdings in NU by 10.0% during the 1st quarter. Stokes Family Office LLC now owns 11,000 shares of the company’s stock worth $131,000 after buying an additional 1,000 shares in the last quarter. Fortis Capital Management LLC boosted its position in NU by 6.6% in the 2nd quarter. Fortis Capital Management LLC now owns 17,330 shares of the company’s stock valued at $223,000 after buying an additional 1,072 shares during the last quarter. Americana Partners LLC increased its stake in shares of NU by 7.8% in the 2nd quarter. Americana Partners LLC now owns 15,449 shares of the company’s stock valued at $199,000 after buying an additional 1,115 shares during the period. Finally, Precision Wealth Strategies LLC raised its position in shares of NU by 3.2% during the first quarter. Precision Wealth Strategies LLC now owns 41,497 shares of the company’s stock worth $495,000 after acquiring an additional 1,303 shares during the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.

About NU

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.