Bank of America Raises NU (NYSE:NU) Price Target to $16.00

NU (NYSE:NU) had its target price increased by investment analysts at Bank of America from $14.00 to $16.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 11.79% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Itau BBA Securities raised shares of 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, August 18th. Citigroup raised shares of NU from a “sell” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $18.00 in a report on Wednesday, August 20th. JPMorgan Chase & Co. increased their price objective on shares of NU from $14.50 to $16.00 and gave the stock an “overweight” rating in a report on Monday, June 30th. Morgan Stanley reissued an “overweight” rating on shares of NU in a report on Friday, June 13th. Finally, Susquehanna upped their target price on shares of NU from $14.00 to $15.00 and gave the company a “positive” rating in a research report on Wednesday, May 14th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.67.

NU Price Performance

Shares of NYSE NU traded up $0.3720 during mid-day trading on Monday, hitting $14.3120. 33,738,604 shares of the stock were exchanged, compared to its average volume of 57,188,016. The company has a market cap of $68.96 billion, a P/E ratio of 31.10, a PEG ratio of 0.80 and a beta of 1.05. The stock’s fifty day simple moving average is $12.91 and its two-hundred day simple moving average is $12.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.57 and a current ratio of 0.57. NU has a twelve month low of $9.01 and a twelve month high of $16.15.

NU (NYSE:NU) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NU had a net margin of 17.90% and a return on equity of 29.91%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. As a group, analysts forecast that NU will post 0.58 EPS for the current fiscal year.

Institutional Trading of NU

A number of hedge funds have recently modified their holdings of NU. Norges Bank acquired a new stake in shares of NU in the 2nd quarter valued at approximately $626,569,000. Baillie Gifford & Co. raised its position in shares of NU by 17.9% in the 1st quarter. Baillie Gifford & Co. now owns 265,160,474 shares of the company’s stock valued at $2,715,243,000 after acquiring an additional 40,181,132 shares during the period. Nuveen LLC acquired a new stake in shares of NU in the 1st quarter valued at approximately $221,317,000. Orbis Allan Gray Ltd acquired a new stake in shares of NU in the 1st quarter valued at approximately $150,763,000. Finally, Jennison Associates LLC raised its position in shares of NU by 38.1% in the 2nd quarter. Jennison Associates LLC now owns 41,962,679 shares of the company’s stock valued at $575,728,000 after acquiring an additional 11,567,865 shares during the period. 84.02% of the stock is currently owned by institutional investors and hedge funds.

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.