NU (NYSE:NU) Rating Increased to Moderate Buy at Needham & Company LLC

NU (NYSE:NU) was upgraded by equities researchers at Needham & Company LLC to a “moderate buy” rating in a report issued on Friday,Zacks.com reports.

Other analysts have also issued research reports about the company. CICC Research began coverage on NU in a report on Tuesday, April 14th. They set an “outperform” rating and a $18.00 price target for the company. Weiss Ratings downgraded NU from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 13th. Susquehanna cut NU from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Bank of America reaffirmed an “underperform” rating on shares of NU in a research report on Tuesday, June 2nd. Finally, UBS Group reduced their target price on shares of NU from $18.10 to $16.90 and set a “buy” rating for the company in a report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.07.

NU Trading Up 6.0%

Shares of NU stock opened at $13.20 on Friday. NU has a 1-year low of $11.20 and a 1-year high of $18.98. The company’s fifty day simple moving average is $13.18 and its 200-day simple moving average is $15.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $64.10 billion, a PE ratio of 20.31, a P/E/G ratio of 0.50 and a beta of 0.95.

NU (NYSE:NU) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). NU had a return on equity of 30.91% and a net margin of 18.20%.The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.06 billion. As a group, equities analysts anticipate that NU will post 0.83 earnings per share for the current year.

NU announced that its Board of Directors has initiated a stock buyback program on Thursday, June 4th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at NU

In other news, Director Anita M. Sands sold 21,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $12.24, for a total transaction of $257,040.00. Following the sale, the director directly owned 162,150 shares of the company’s stock, valued at $1,984,716. This represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NU

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LOM Asset Management Ltd bought a new position in shares of NU in the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its stake in NU by 14,810.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,491 shares of the company’s stock worth $25,000 after acquiring an additional 1,481 shares during the last quarter. Cornerstone Planning Group LLC raised its position in NU by 5,448.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,609 shares of the company’s stock valued at $27,000 after purchasing an additional 1,580 shares during the period. Zions Bancorporation National Association UT purchased a new stake in NU during the fourth quarter valued at approximately $27,000. Finally, Morse Asset Management Inc bought a new stake in shares of NU in the 4th quarter valued at approximately $31,000. 84.02% of the stock is owned by hedge funds and other institutional investors.

NU Company Profile

Nu Holdings Ltd (NYSE: NU), commonly known by its consumer brand Nubank, is a Latin American financial technology company that provides digital banking and financial services through a mobile-first platform. The company’s core offerings include no-fee digital checking accounts, credit cards, personal loans, payments and transfers, and a range of savings and investment products. Nubank emphasizes a streamlined customer experience delivered via its smartphone app, combined with data-driven underwriting and automated customer service tools.

Founded in 2013 by David Vélez, Cristina Junqueira and Edward Wible, Nu grew rapidly by targeting underbanked and digitally savvy consumers in Latin America with low-fee, transparent products.