The Goldman Sachs Group Issues Positive Forecast for NU (NYSE:NU) Stock Price

NU (NYSE:NU) had its target price upped by The Goldman Sachs Group from $17.00 to $19.00 in a report issued on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. UBS Group cut NU from a “buy” rating to a “neutral” rating and set a $13.50 price objective for the company. in a research note on Friday, August 2nd. Itau BBA Securities lowered NU from an “outperform” rating to a “market perform” rating in a report on Thursday. Susquehanna increased their price objective on NU from $16.00 to $18.00 and gave the company a “positive” rating in a research note on Thursday. KeyCorp increased their price objective on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Barclays increased their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.21.

NU Trading Down 7.4 %

NU traded down $1.13 on Thursday, hitting $14.06. The company had a trading volume of 35,601,324 shares, compared to its average volume of 32,264,639. The firm has a market cap of $67.01 billion, a P/E ratio of 39.97, a PEG ratio of 0.71 and a beta of 1.13. NU has a 1 year low of $7.74 and a 1 year high of $16.15. The company’s fifty day moving average price is $14.47 and its 200 day moving average price is $13.19. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

NU (NYSE:NU) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.90 billion. NU had a return on equity of 29.70% and a net margin of 16.28%. During the same period in the previous year, the company posted $0.05 earnings per share. As a group, equities analysts expect that NU will post 0.41 earnings per share for the current year.

Institutional Trading of NU

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its stake in NU by 105.9% during the 3rd quarter. State Street Corp now owns 78,865,138 shares of the company’s stock valued at $1,076,509,000 after acquiring an additional 40,560,986 shares in the last quarter. Stifel Financial Corp raised its stake in shares of NU by 8.5% in the 3rd quarter. Stifel Financial Corp now owns 1,177,480 shares of the company’s stock worth $16,073,000 after buying an additional 92,475 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of NU by 112.5% in the 3rd quarter. Quantinno Capital Management LP now owns 64,156 shares of the company’s stock worth $876,000 after buying an additional 33,968 shares in the last quarter. Quarry LP raised its stake in shares of NU by 104.8% in the 3rd quarter. Quarry LP now owns 7,890 shares of the company’s stock worth $108,000 after buying an additional 4,037 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in shares of NU by 6.2% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,305,453 shares of the company’s stock worth $17,819,000 after buying an additional 76,009 shares in the last quarter. Institutional investors own 80.90% of the company’s stock.

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.