NU (NYSE:NU) Reaches New 1-Year High – Here’s Why

Nu Holdings Ltd. (NYSE:NU) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.99 and last traded at $17.9350, with a volume of 26455021 shares changing hands. The stock had previously closed at $17.02.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of NU in a research note on Wednesday, October 8th. KeyCorp boosted their price objective on NU from $15.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. The Goldman Sachs Group reissued a “buy” rating and set a $21.00 target price on shares of NU in a report on Thursday, December 18th. Susquehanna lifted their price target on NU from $17.00 to $19.00 and gave the stock a “positive” rating in a research note on Friday, November 14th. Finally, UBS Group boosted their price target on NU from $16.00 to $18.40 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.04.

NU Trading Down 2.0%

The company has a market capitalization of $84.30 billion, a PE ratio of 34.30, a PEG ratio of 0.60 and a beta of 1.08. The company has a fifty day simple moving average of $16.54 and a 200-day simple moving average of $15.03. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.29.

NU (NYSE:NU) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. NU had a return on equity of 30.12% and a net margin of 17.97%.The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $3.96 billion. Analysts predict that Nu Holdings Ltd. will post 0.58 EPS for the current year.

Institutional Trading of NU

Hedge funds have recently made changes to their positions in the company. Armstrong Advisory Group Inc. acquired a new position in NU in the second quarter valued at approximately $27,000. Jordan Park Group LLC raised its position in NU by 129.3% in the third quarter. Jordan Park Group LLC now owns 1,958,842 shares of the company’s stock valued at $31,000 after purchasing an additional 1,104,421 shares during the period. ORG Partners LLC lifted its stake 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 purchasing an additional 1,920 shares during the last quarter. Quaker Wealth Management LLC grew its holdings in shares of NU by 212.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 2,300 shares of the company’s stock worth $32,000 after purchasing an additional 4,341 shares during the period. Finally, Allworth Financial LP increased its position in shares of NU by 166.6% during the 2nd quarter. Allworth Financial LP now owns 2,562 shares of the company’s stock worth $35,000 after purchasing an additional 1,601 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

About NU

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.