NU (NYSE:NU) Stock Rating Upgraded by Citigroup

Key Points

• Citigroup upgraded NU from a "sell" to a "buy" rating with a target price of $18.00, suggesting a potential upside of 37.21% from current prices.
• Several analysts have recently boosted their price targets for NU, with a consensus target price of $16.56 and a strong consensus rating of "Moderate Buy."
• NU reported quarterly earnings of $0.14 EPS, exceeding estimates, and has drawn significant interest from institutional investors, with 84.02% of the stock owned by hedge funds.

NU (NYSE:NU - Get Free Report) was upgraded by analysts at Citigroup from a "sell" rating to a "buy" rating in a report released on Wednesday, Marketbeat Ratings reports. The firm presently has a $18.00 price objective on the stock, up from their previous price objective of $9.00. Citigroup's price target would suggest a potential upside of 25.65% from the company's previous close.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of NU from $14.50 to $16.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. Barclays upped their price target on shares of NU from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Susquehanna upped their price target on shares of NU from $14.00 to $15.00 and gave the stock a "positive" rating in a research note on Wednesday, May 14th. Itau BBA Securities upgraded shares of NU from a "market perform" rating to an "outperform" rating and set a $18.00 price target on the stock in a research note on Monday, August 18th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of NU in a research note on Friday, June 13th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, NU currently has a consensus rating of "Moderate Buy" and an average target price of $16.67.

NU Stock Up 2.8%

Shares of NU stock traded up $0.3850 during mid-day trading on Wednesday, reaching $14.3250. 35,005,931 shares of the company's stock traded hands, compared to its average volume of 57,196,809. NU has a 12 month low of $9.01 and a 12 month high of $16.15. The company has a market cap of $69.03 billion, a P/E ratio of 31.12, a P/E/G ratio of 0.80 and a beta of 1.05. 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 company's 50-day moving average price is $12.91 and its 200-day moving average price is $12.15.

NU (NYSE:NU - Get Free Report) last announced its 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 firm had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.78 billion. NU had a net margin of 17.90% and a return on equity of 29.91%. During the same quarter in the previous year, the business posted $0.12 EPS. On average, equities analysts expect that NU will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NU. GAMMA Investing LLC increased its position in shares of NU by 2,069.9% during the 1st quarter. GAMMA Investing LLC now owns 72,192 shares of the company's stock valued at $7,050,000 after purchasing an additional 68,865 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of NU during the 1st quarter valued at about $113,000. Cetera Investment Advisers increased its position in shares of NU by 6.0% during the 4th quarter. Cetera Investment Advisers now owns 194,295 shares of the company's stock valued at $2,013,000 after purchasing an additional 10,955 shares during the last quarter. SG Americas Securities LLC increased its position in shares of NU by 212.1% during the 1st quarter. SG Americas Securities LLC now owns 83,401 shares of the company's stock valued at $854,000 after purchasing an additional 56,682 shares during the last quarter. Finally, Unison Asset Management LLC increased its position in shares of NU by 3.1% during the 1st quarter. Unison Asset Management LLC now owns 1,261,650 shares of the company's stock valued at $12,798,000 after purchasing an additional 37,888 shares during the last quarter. Institutional investors 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.