NU (NYSE:NU) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of NU (NYSE:NU) in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a $19.00 target price on the stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on NU from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Susquehanna upped their price objective on NU from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. UBS Group raised their price objective on shares of NU from $18.20 to $20.50 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Rothschild & Co Redburn set a $19.00 target price on shares of NU in a research note on Monday, September 28th. Finally, Monness Crespi & Hardt started coverage on shares of NU in a research note on Monday, October 26th. They issued a “buy” rating and a $20.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.25.

NU Price Performance

Shares of NU stock traded up $1.31 during trading on Friday, hitting $13.14. The company had a trading volume of 152,506,468 shares, compared to its average volume of 84,930,656. The firm has a market capitalization of $63.79 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 0.49 and a beta of 0.97. NU has a one year low of $11.20 and a one year high of $18.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock’s 50-day moving average price is $13.76 and its 200 day moving average price is $14.22.

NU (NYSE:NU) last announced its quarterly earnings data on Thursday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). NU had a return on equity of 32.54% and a net margin of 18.66%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same quarter in the previous year, the company earned $0.16 earnings per share. Equities analysts expect that NU will post 0.85 EPS for the current fiscal year.

Insider Transactions at NU

In other news, CEO Cristina Junqueira sold 25,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $15.01, for a total value of $375,250.00. Following the transaction, the chief executive officer owned 4,877,593 shares of the company’s stock, valued at $73,212,670.93. This represents a 0.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 115,000 shares of company stock worth $1,706,400 in the last three months. Insiders own 1.20% of the company’s stock.

Institutional Trading of NU

A number of institutional investors have recently made changes to their positions in NU. Waverly Advisors LLC boosted its position in NU by 6.4% during the 2nd quarter. Waverly Advisors LLC now owns 12,933 shares of the company’s stock valued at $173,000 after acquiring an additional 783 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of NU by 1.9% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 50,790 shares of the company’s stock worth $679,000 after acquiring an additional 935 shares during the period. Insigneo Advisory Services LLC raised its position in shares of NU by 1.7% in the 3rd quarter. Insigneo Advisory Services LLC now owns 58,605 shares of the company’s stock worth $742,000 after acquiring an additional 969 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of NU by 7.9% in the 3rd quarter. Global Retirement Partners LLC now owns 13,872 shares of the company’s stock worth $176,000 after acquiring an additional 1,018 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its position in shares of NU by 68.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 3,010 shares of the company’s stock worth $40,000 after acquiring an additional 1,220 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

Key NU News

These are some of the NU news items that stood out recently:

• Positive Sentiment: Nu reported record Q3 revenue of $6.26 billion, topping the roughly $5.96 billion analyst estimate, and record net income of $1.09 billion. EPS was $0.22, just below the $0.23 estimate cited by some analysts. Article: Nu Holdings Surges on Record Q3 Earnings Beat
• Positive Sentiment: Needham reaffirmed its Buy rating and set a $19 price target, while unusually high call-option activity also pointed to increased bullish positioning. Needham rating information
• Negative Sentiment: Rising non-performing loans remain a risk investors are watching, and reported EPS came in slightly below some consensus estimates despite the revenue beat. Article: Nu Holdings Earnings and Investor Concerns

About NU

Nu Holdings Ltd., which operates under the Nubank brand, is a digital financial services company founded in Brazil in 2013. It provides banking and related services through mobile apps and other digital channels, with a focus on simplifying access to financial products. Its offerings include digital accounts, payment cards, credit products, personal loans, and investment services. The company also provides services to small businesses, with products and availability varying by country. Nu serves customers in Brazil, Mexico, and Colombia.