NU (NYSE:NU) Rating Increased to Outperform at Itau BBA Securities

Itau BBA Securities upgraded shares of NU (NYSE:NU) from a market perform rating to an outperform rating in a research note released on Monday, Marketbeat.com reports. The brokerage currently has $18.00 price objective on the stock.

NU has been the subject of a number of other research reports. Barclays upped their price objective on NU from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Susquehanna upped their price objective on NU from $14.00 to $15.00 and gave the company a “positive” rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. upped their price objective on NU from $14.50 to $16.00 and gave the company an “overweight” rating in a research note on Monday, June 30th. Finally, Morgan Stanley restated an “overweight” rating on shares of NU in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.78.

NU Trading Up 1.8%

NYSE NU opened at $13.33 on Monday. The firm has a market capitalization of $64.23 billion, a P/E ratio of 28.98, a PEG ratio of 0.74 and a beta of 1.05. The business has a fifty day simple moving average of $12.79 and a 200 day simple moving average of $12.15. NU has a 12 month low of $9.01 and a 12 month high of $16.15. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20.

NU (NYSE:NU) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.78 billion. NU had a return on equity of 31.42% and a net margin of 17.90%. During the same period in the prior year, the firm posted $0.12 EPS. On average, analysts predict that NU will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NU. Raymond James Financial Inc. purchased a new stake in NU during the 4th quarter worth about $3,499,000. Barclays PLC lifted its holdings in NU by 10.7% during the 4th quarter. Barclays PLC now owns 1,112,243 shares of the company’s stock worth $11,523,000 after purchasing an additional 107,221 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in NU by 95.0% during the 4th quarter. Guggenheim Capital LLC now owns 55,194 shares of the company’s stock worth $572,000 after purchasing an additional 26,886 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in NU by 43.1% during the 4th quarter. NewEdge Advisors LLC now owns 178,030 shares of the company’s stock worth $1,844,000 after purchasing an additional 53,646 shares in the last quarter. Finally, Tradition Wealth Management LLC purchased a new stake in NU during the 4th quarter worth about $158,000. Institutional investors own 84.02% of the company’s stock.

NU Company Profile

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.