NU (NYSE:NU) Rating Lowered to “Market Perform” at Itau BBA Securities

NU (NYSE:NU) was downgraded by equities researchers at Itau BBA Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, MarketBeat.com reports.

Several other brokerages also recently commented on NU. UBS Group downgraded shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 price target on the stock. in a report on Friday, August 2nd. Bank of America upped their target price on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Susquehanna raised their price target on NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on NU from $14.50 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Barclays lifted their target price on NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.21.

NU Price Performance

Shares of NU stock opened at $14.06 on Thursday. The stock has a 50 day moving average price of $14.48 and a 200-day moving average price of $13.21. NU has a one year low of $7.74 and a one year high of $16.15. The stock has a market cap of $66.99 billion, a price-to-earnings ratio of 39.04, a price-to-earnings-growth ratio of 0.71 and a beta of 1.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.49.

NU (NYSE:NU) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.90 billion. NU had a net margin of 16.28% and a return on equity of 29.70%. During the same quarter in the previous year, the business posted $0.05 earnings per share. Equities analysts expect that NU will post 0.41 EPS for the current year.

Hedge Funds Weigh In On NU

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in NU by 104.3% during the third quarter. Geode Capital Management LLC now owns 32,597,803 shares of the company’s stock worth $442,935,000 after buying an additional 16,638,397 shares during the period. M&T Bank Corp lifted its stake in shares of NU by 4.2% during the 3rd quarter. M&T Bank Corp now owns 417,467 shares of the company’s stock worth $5,698,000 after purchasing an additional 16,812 shares during the last quarter. Adalta Capital Management LLC boosted its position in NU by 11.7% during the third quarter. Adalta Capital Management LLC now owns 83,550 shares of the company’s stock valued at $1,140,000 after purchasing an additional 8,725 shares in the last quarter. Barclays PLC grew its stake in NU by 55.7% in the third quarter. Barclays PLC now owns 1,005,022 shares of the company’s stock valued at $13,718,000 after purchasing an additional 359,733 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in NU by 3.1% in the third quarter. LRI Investments LLC now owns 24,983 shares of the company’s stock worth $341,000 after purchasing an additional 743 shares in the last quarter. 80.90% of the stock is owned by hedge funds and other institutional investors.

NU Company Profile

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.