NU (NYSE:NU) Downgraded to “Market Perform” Rating by 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 report released on Thursday,Briefing.com Automated Import reports.

A number of other brokerages have also recently weighed in on NU. KeyCorp increased their price target on shares of NU from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America increased their price target on shares of NU from $12.80 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. UBS Group cut shares of NU from a “buy” rating to a “neutral” rating and set a $13.50 target price for the company. in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Susquehanna raised their target price on shares of NU from $16.00 to $18.00 and gave the stock a “positive” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.96.

NU Trading Down 1.3 %

NYSE NU opened at $15.64 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.49 and a quick ratio of 0.49. The firm’s fifty day moving average price is $14.45 and its 200 day moving average price is $13.17. The company has a market capitalization of $74.54 billion, a price-to-earnings ratio of 50.45, a price-to-earnings-growth ratio of 0.72 and a beta of 1.13. NU has a 12 month low of $7.74 and a 12 month high of $16.15.

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

Institutional Investors Weigh In On NU

Several hedge funds have recently modified their holdings of the stock. 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 acquiring an additional 815 shares during the last quarter. Marcum Wealth LLC lifted its position in NU by 2.5% during the third quarter. Marcum Wealth LLC now owns 37,221 shares of the company’s stock valued at $508,000 after buying an additional 903 shares in the last quarter. Fortis Capital Management LLC lifted its position in NU by 6.6% during the second quarter. Fortis Capital Management LLC now owns 17,330 shares of the company’s stock valued at $223,000 after buying an additional 1,072 shares in the last quarter. Americana Partners LLC lifted its position in NU by 7.8% during the second quarter. Americana Partners LLC now owns 15,449 shares of the company’s stock valued at $199,000 after buying an additional 1,115 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its position in NU by 4.9% during the third quarter. OneDigital Investment Advisors LLC now owns 26,477 shares of the company’s stock valued at $361,000 after buying an additional 1,248 shares in the last quarter. 80.90% of the stock is owned by institutional investors and hedge funds.

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.