NU (NYSE:NU) Stock Price Up 2.3% – Time to Buy?

Nu Holdings Ltd. (NYSE:NU)’s share price shot up 2.3% during trading on Monday . The company traded as high as $15.42 and last traded at $15.29. 7,002,933 shares changed hands during trading, a decline of 78% from the average session volume of 31,987,307 shares. The stock had previously closed at $14.94.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NU. UBS Group lowered shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 target price on the stock. in a research report on Friday, August 2nd. Susquehanna restated a “positive” rating and set a $16.00 target price on shares of NU in a report on Thursday, August 15th. The Goldman Sachs Group increased their price target on NU from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Bank of America upped their target price on NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Barclays upped their target price on shares of NU from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.21.

NU Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49. The stock’s fifty day moving average is $14.31 and its two-hundred day moving average is $12.85. The firm has a market cap of $74.68 billion, a price-to-earnings ratio of 50.55, a PEG ratio of 0.68 and a beta of 1.15.

NU (NYSE:NU) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, analysts expect that Nu Holdings Ltd. will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NU

A number of institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of NU by 287.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,916 shares of the company’s stock valued at $26,000 after buying an additional 1,422 shares during the period. GAMMA Investing LLC boosted its position in shares of NU by 56.2% in the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $29,000 after buying an additional 815 shares during the period. Carolina Wealth Advisors LLC purchased a new position in shares of NU during the third quarter valued at $44,000. Toth Financial Advisory Corp acquired a new position in NU during the third quarter valued at $55,000. Finally, ORG Partners LLC acquired a new stake in NU during the 2nd quarter worth about $54,000. 80.90% of the stock is currently owned by institutional investors and hedge funds.

About NU

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.