JPMorgan Chase & Co. Cuts NU (NYSE:NU) Price Target to $14.00

NU (NYSE:NU) had its target price reduced by JPMorgan Chase & Co. from $15.00 to $14.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on NU. The Goldman Sachs Group increased their price objective on NU from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Itau BBA Securities cut shares of NU from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Citigroup cut shares of NU from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $14.60 to $11.00 in a report on Monday, December 2nd. UBS Group dropped their price target on shares of NU from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Finally, Susquehanna increased their price target on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.47.

NU Stock Performance

NYSE NU opened at $11.04 on Monday. The stock has a market cap of $52.59 billion, a PE ratio of 27.59, a P/E/G ratio of 0.48 and a beta of 1.10. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a 50-day moving average of $11.91 and a 200-day moving average of $13.25. NU has a 52-week low of $9.67 and a 52-week high of $16.15.

NU (NYSE:NU) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. NU had a net margin of 17.12% and a return on equity of 30.99%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.17 billion. On average, sell-side analysts anticipate that NU will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC acquired a new stake in shares of NU in the 3rd quarter valued at $98,704,000. Thrivent Financial for Lutherans lifted its position in shares of NU by 23.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 257,648 shares of the company’s stock worth $3,517,000 after buying an additional 48,445 shares during the last quarter. Adero Partners LLC boosted its stake in NU by 5.7% in the third quarter. Adero Partners LLC now owns 4,819,355 shares of the company’s stock valued at $65,784,000 after buying an additional 259,324 shares in the last quarter. Summit Partners Public Asset Management LLC grew its position in NU by 20.0% in the third quarter. Summit Partners Public Asset Management LLC now owns 300,000 shares of the company’s stock valued at $4,095,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft raised its stake in NU by 19.6% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 355,332 shares of the company’s stock worth $3,680,000 after acquiring an additional 58,183 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

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.