NU (NYSE:NU) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of NU (NYSE:NU) from a sell rating to a buy rating in a research note released on Wednesday, MarketBeat reports. The firm currently has $18.00 price target on the stock, up from their previous price target of $9.00.

NU has been the subject of several other research reports. Barclays increased their price target on NU from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price target on NU from $14.50 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, June 30th. Susquehanna increased their price target on NU from $14.00 to $15.00 and gave the stock a “positive” rating in a research note on Wednesday, May 14th. Morgan Stanley reissued an “overweight” rating on shares of NU in a report on Friday, June 13th. Finally, Itau BBA Securities raised NU from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.56.

NU Stock Up 3.7%

NU stock opened at $13.6040 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.54 and a current ratio of 0.57. The company has a market capitalization of $65.55 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 0.75 and a beta of 1.05. NU has a fifty-two week low of $9.01 and a fifty-two week high of $16.15. The stock has a fifty day moving average of $12.83 and a 200-day moving average of $12.17.

NU (NYSE:NU) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.78 billion. NU had a return on equity of 29.91% and a net margin of 17.90%.During the same quarter in the prior year, the company earned $0.12 EPS. As a group, equities research analysts predict that NU will post 0.58 earnings per share for the current year.

Institutional Trading of NU

Institutional investors have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. bought a new position in NU in the 2nd quarter worth about $27,000. Quaker Wealth Management LLC raised its holdings in shares of NU by 212.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $32,000 after acquiring an additional 4,341 shares in the last quarter. ORG Partners LLC raised its holdings in shares of NU by 474.1% in the 2nd quarter. ORG Partners LLC now owns 2,325 shares of the company’s stock valued at $32,000 after acquiring an additional 1,920 shares in the last quarter. Allworth Financial LP raised its holdings in shares of NU by 166.6% in the 2nd quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock valued at $35,000 after acquiring an additional 1,601 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of NU in the 2nd quarter valued at about $36,000. Hedge funds and other 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.