Susquehanna Increases NU (NYSE:NU) Price Target to $11.00

NU (NYSE:NU) had its price objective increased by equities research analysts at Susquehanna from $10.00 to $11.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 40.22% from the stock’s current price.

Several other research firms have also recently issued reports on NU. UBS Group boosted their target price on shares of NU from $8.50 to $9.30 and gave the company a “buy” rating in a research note on Monday, August 21st. KeyCorp upped their price objective on shares of NU from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Bank of America increased their target price on shares of NU from $8.30 to $8.50 in a research note on Tuesday, September 19th. Jefferies Financial Group assumed coverage on shares of NU in a research note on Monday, October 16th. They set a “buy” rating and a $10.80 target price for the company. Finally, JPMorgan Chase & Co. raised shares of NU from a “neutral” rating to an “overweight” rating and set a $9.00 price objective for the company in a research note on Monday, September 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.80.

NU Stock Performance

Shares of NYSE:NU opened at $7.85 on Wednesday. NU has a 52 week low of $3.39 and a 52 week high of $8.87. The stock has a market capitalization of $36.83 billion, a P/E ratio of 392.25 and a beta of 1.08. The firm has a fifty day simple moving average of $7.70 and a two-hundred day simple moving average of $7.37. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.14.

NU (NYSE:NU) last released its earnings results on Tuesday, August 15th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.75 billion. NU had a net margin of 1.23% and a return on equity of 11.40%. On average, analysts expect that NU will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NU. Morgan Stanley increased its position in NU by 7.1% during the 3rd quarter. Morgan Stanley now owns 61,260,423 shares of the company’s stock worth $444,138,000 after purchasing an additional 4,044,904 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in NU by 198.1% during the third quarter. The Manufacturers Life Insurance Company now owns 265,393 shares of the company’s stock worth $1,924,000 after acquiring an additional 176,379 shares during the period. Royal Bank of Canada grew its holdings in NU by 94.7% during the third quarter. Royal Bank of Canada now owns 562,135 shares of the company’s stock worth $4,075,000 after acquiring an additional 273,451 shares during the period. Royal London Asset Management Ltd. purchased a new position in NU in the 3rd quarter worth about $5,298,000. Finally, Ribbit Bullfrog GP II Ltd. increased its stake in NU by 52.2% in the 3rd quarter. Ribbit Bullfrog GP II Ltd. now owns 10,640,565 shares of the company’s stock worth $77,144,000 after purchasing an additional 3,649,865 shares in the last quarter. 53.73% of the stock is currently owned by hedge funds and other institutional investors.

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.