UBS Group Forecasts Strong Price Appreciation for NU (NYSE:NU) Stock

NU (NYSE:NU) had its price objective increased by equities research analysts at UBS Group from $14.30 to $15.60 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 5.58% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Itau BBA Securities upgraded NU from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Monday, August 18th. Bradesco Corretora upgraded shares of NU to an “outperform” rating and set a $17.00 price target on the stock in a research note on Monday, August 25th. Morgan Stanley reissued an “overweight” rating on shares of NU in a research note on Friday, June 13th. Santander upgraded shares of NU to a “neutral” rating in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NU from $14.50 to $16.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.96.

NU Stock Performance

Shares of NYSE:NU traded down $0.03 on Tuesday, hitting $14.78. The company had a trading volume of 8,170,558 shares, compared to its average volume of 56,938,496. The stock has a market cap of $71.20 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 0.78 and a beta of 1.07. The stock has a 50 day moving average price of $13.19 and a 200 day moving average price of $12.19. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. NU has a 1-year low of $9.01 and a 1-year high of $16.15.

NU (NYSE:NU) last posted 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 the consensus estimate of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same quarter in the previous year, the firm earned $0.12 earnings per share. Analysts expect that NU will post 0.58 EPS for the current year.

Hedge Funds Weigh In On NU

A number of institutional investors and hedge funds have recently made changes to their positions in NU. AQR Capital Management LLC grew its holdings in NU by 242.2% during the 4th quarter. AQR Capital Management LLC now owns 1,028,385 shares of the company’s stock valued at $10,654,000 after purchasing an additional 727,880 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of NU by 1,245.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 177,174 shares of the company’s stock valued at $1,836,000 after buying an additional 164,001 shares in the last quarter. Ameriprise Financial Inc. raised its stake in NU by 7.2% in the fourth quarter. Ameriprise Financial Inc. now owns 7,480,461 shares of the company’s stock valued at $77,498,000 after buying an additional 504,885 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in shares of NU during the fourth quarter valued at $111,000. Finally, Balyasny Asset Management L.P. purchased a new position in NU during the 4th quarter worth approximately $387,000. 84.02% of the stock is owned by hedge funds and other institutional investors.

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.