NU (NYSE:NU) Stock Price Up 2.3% – Still a Buy?

Shares of Nu Holdings Ltd. (NYSE:NU) shot up 2.3% during mid-day trading on Monday . The company traded as high as $15.42 and last traded at $15.29. 7,002,933 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 31,987,307 shares. The stock had previously closed at $14.94.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NU. Bank of America increased their price objective on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price objective on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Susquehanna reiterated a “positive” rating and issued a $16.00 price objective on shares of NU in a research report on Thursday, August 15th. UBS Group downgraded NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective on the stock. in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their target price on NU from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, NU presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.21.

NU Stock Performance

The company’s 50-day moving average price is $14.26 and its 200 day moving average price is $12.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market capitalization of $73.44 billion, a PE ratio of 58.81, a PEG ratio of 0.66 and a beta of 1.15.

NU (NYSE:NU) last posted its earnings results on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. NU had a net margin of 15.11% and a return on equity of 27.00%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the company posted $0.05 EPS. On average, equities research analysts expect that Nu Holdings Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in NU by 47.6% during the 1st quarter. Baillie Gifford & Co. now owns 169,450,124 shares of the company’s stock valued at $2,021,540,000 after purchasing an additional 54,681,625 shares in the last quarter. Capital Research Global Investors increased its stake in NU by 15.7% during the 1st quarter. Capital Research Global Investors now owns 202,618,338 shares of the company’s stock valued at $2,417,237,000 after purchasing an additional 27,420,994 shares in the last quarter. Jennison Associates LLC increased its stake in NU by 32.4% during the 1st quarter. Jennison Associates LLC now owns 87,155,886 shares of the company’s stock valued at $1,039,770,000 after purchasing an additional 21,342,814 shares in the last quarter. American Century Companies Inc. increased its stake in NU by 73.1% during the 2nd quarter. American Century Companies Inc. now owns 17,237,693 shares of the company’s stock valued at $222,194,000 after purchasing an additional 7,279,458 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in NU by 216.4% during the 1st quarter. 1832 Asset Management L.P. now owns 8,028,600 shares of the company’s stock valued at $95,781,000 after purchasing an additional 5,490,800 shares in the last quarter. 80.90% of the stock is 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.