NU (NYSE:NU) Price Target Raised to $16.00 at Bank of America

NU (NYSE:NU) had its price target boosted by Bank of America from $14.00 to $16.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also weighed in on the company. JPMorgan Chase & Co. increased their target price on NU from $14.50 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, June 30th. Morgan Stanley restated an “overweight” rating on shares of NU in a research note on Friday, June 13th. Itau BBA Securities raised shares of NU from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Monday, August 18th. Citigroup upgraded shares of NU from a “sell” rating to a “buy” rating and upped their price objective for the company from $9.00 to $18.00 in a report on Wednesday, August 20th. Finally, Susquehanna lifted their price target on NU from $14.00 to $15.00 and gave the stock a “positive” rating in a research report on Wednesday, May 14th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.67.

NU Stock Performance

Shares of NYSE:NU opened at $14.24 on Monday. The stock has a market capitalization of $68.62 billion, a P/E ratio of 30.96, a PEG ratio of 0.80 and a beta of 1.05. NU has a 52 week low of $9.01 and a 52 week high of $16.15. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $12.94 and a two-hundred day simple moving average of $12.16.

NU (NYSE:NU) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NU had a return on equity of 29.91% and a net margin of 17.90%.The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business posted $0.12 earnings per share. On average, analysts expect that NU will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NU

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. increased its position in NU by 17.9% during the first quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company’s stock worth $2,715,243,000 after purchasing an additional 40,181,132 shares during the last quarter. State Street Corp boosted its stake in shares of NU by 2.4% in the second quarter. State Street Corp now owns 91,238,735 shares of the company’s stock valued at $1,251,795,000 after purchasing an additional 2,158,037 shares during the period. Sands Capital Management LLC grew its stake in shares of NU by 5.9% in the second quarter. Sands Capital Management LLC now owns 54,504,428 shares of the company’s stock worth $747,801,000 after acquiring an additional 3,060,463 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in NU by 24.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,435,568 shares of the company’s stock worth $557,422,000 after purchasing an additional 10,785,851 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of NU during the second quarter worth approximately $626,569,000. Institutional investors and hedge funds own 84.02% of the company’s stock.

About NU

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.