Nu Holdings Ltd. (NU) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with Nu Holdings Ltd. (NU) standing at $9.38, reflecting a +1.19% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.23%. Elsewhere, the Dow saw an upswing of 0.37%, while the tech-heavy Nasdaq appreciated by 0.07%.
Heading into today, shares of the company had gained 4.27% over the past month, lagging the Business Services sector's gain of 5.59% and the S&P 500's gain of 5.3% in that time.
The investment community will be closely monitoring the performance of Nu Holdings Ltd. in its forthcoming earnings report. The company is scheduled to release its earnings on February 22, 2024. It is anticipated that the company will report an EPS of $0.09, marking a 200% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.39 billion, indicating a 64.75% upward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Nu Holdings Ltd. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Nu Holdings Ltd. currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Nu Holdings Ltd. is presently being traded at a Forward P/E ratio of 22.34. This expresses a discount compared to the average Forward P/E of 23.85 of its industry.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Nu Holdings Ltd. (NU) : Free Stock Analysis Report
