Nu Holdings Ltd [NYSE: NU] traded at a high on Friday, posting a 4.00 gain after which it closed the day’ session at $9.37. The company report on November 14, 2023 at 4:26 PM that Nu Holdings Ltd. Reports Third Quarter 2023 Financial Results.
Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Third Quarter 2023 financial results. Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS). The full earnings release has been made available on the Company’s Investor Relations website at www.investors.nu, as well as the details of the Earnings Conference Call Nu will hold today at 5:00 pm Eastern time/7:00 pm Brasília time.
“Nu is on a remarkable upward trajectory, demonstrating solid operating performance, continued growth, and increasingly robust profitability. We reached 90 million customers in October, and closed Q3’23 with ever-increasing principality and engagement rates, cost to serve remaining below the dollar level, and efficiency ratio further improving 40bp QoQ to 35.0%. ARPAC broke double digits for the first time, at US$10.0, annualized ROE achieved 21% and annualized adjusted ROE reached 25%, showcasing our operational leverage. All of that led to a record revenue for the period, surpassing the US$2 billion mark, resulting in a net income of US$303 million and an adjusted net income of US$356 million. It’s important to note that we are achieving these strong levels of profitability while keeping asset quality in line with expectations and continuing to invest in product portfolio and geo expansion,” said David Vélez, founder and CEO of Nubank.
The results of the trading session contributed to over 37115390 shares changing hands. Over the past one week, the price volatility of Nu Holdings Ltd stands at 4.19% while the volatility over the past one month is 3.33%.
The market cap for NU stock reached $44.55 billion, with 3.60 billion shares outstanding and 2.47 billion shares in the current float. Compared to the average trading volume of 28.95M shares, NU reached a trading volume of 37115390 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Nu Holdings Ltd [NU]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NU shares is $10.28 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NU stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Redburn Atlantic have made an estimate for Nu Holdings Ltd shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 18, 2023.
The Average True Range (ATR) for Nu Holdings Ltd is set at 0.32, with the Price to Sales ratio for NU stock in the period of the last 12 months amounting to 7.47. The Price to Book ratio for the last quarter was 7.57, with the Price to Cash per share for the same quarter was set at 0.79. Price to Free Cash Flow for NU in the course of the last twelve months was 9.63.
How has NU stock performed recently?
Nu Holdings Ltd [NU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.37. With this latest performance, NU shares gained by 15.82% in over the last four-week period, additionally plugging by 20.59% over the last 6 months – not to mention a rise of 96.44% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NU stock in for the last two-week period is set at 59.58, with the RSI for the last a single of trading hit 60.13, and the three-weeks RSI is set at 59.19 for Nu Holdings Ltd [NU]. The present Moving Average for the last 50 days of trading for this stock 8.56, while it was recorded at 9.03 for the last single week of trading, and 7.58 for the last 200 days.
Earnings analysis for Nu Holdings Ltd [NU]
With the latest financial reports released by the company, Nu Holdings Ltd posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at 0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NU.
Insider trade positions for Nu Holdings Ltd [NU]
The top three institutional holders of NU stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NU stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NU stock with ownership which is approximately 5.8325%.
