NU (NYSE:NU) Price Target Raised to $20.00 at JPMorgan Chase & Co.

NU (NYSE:NU) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $18.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 42.50% from the stock’s previous close.

Several other analysts have also issued reports on NU. Weiss Ratings lowered shares of NU from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th. Susquehanna cut shares of NU from a “positive” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $13.00 in a research report on Wednesday, June 3rd. Zacks Research downgraded shares of NU from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Scotiabank lowered shares of NU to a “sector perform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, June 3rd. Finally, CICC Research began coverage on shares of NU in a report on Tuesday, April 14th. They issued an “outperform” rating and a $18.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.24.

NU Price Performance

NU stock opened at $14.04 on Tuesday. The business has a fifty day moving average of $13.00 and a two-hundred day moving average of $14.95. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.36. The stock has a market cap of $68.15 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 0.54 and a beta of 0.95. NU has a 52-week low of $11.20 and a 52-week high of $18.98.

NU (NYSE:NU) last announced its quarterly earnings results 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 net margin of 18.20% and a return on equity of 30.91%. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.06 billion. As a group, research analysts anticipate that NU will post 0.83 earnings per share for the current year.

NU declared that its board has initiated a share buyback plan on Thursday, June 4th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Anita M. Sands sold 21,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 162,150 shares of the company’s stock, valued at $1,984,716. The trade was a 11.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On NU

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in NU by 63.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,768 shares of the company’s stock valued at $52,000 after acquiring an additional 1,464 shares in the last quarter. Jump Financial LLC lifted its stake in NU by 541.8% in the second quarter. Jump Financial LLC now owns 185,434 shares of the company’s stock worth $2,544,000 after acquiring an additional 156,539 shares during the last quarter. WINTON GROUP Ltd lifted its stake in NU by 38.5% in the second quarter. WINTON GROUP Ltd now owns 37,156 shares of the company’s stock worth $510,000 after acquiring an additional 10,332 shares during the last quarter. AXA S.A. grew its holdings in NU by 1.4% during the 2nd quarter. AXA S.A. now owns 192,311 shares of the company’s stock worth $2,639,000 after acquiring an additional 2,682 shares in the last quarter. Finally, Nebula Research & Development LLC grew its holdings in NU by 63.7% during the 2nd quarter. Nebula Research & Development LLC now owns 19,937 shares of the company’s stock worth $274,000 after acquiring an additional 7,760 shares in 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.