Nu Holdings Ltd. (NU) closed at $5.91 in the latest trading session, marking a +1.55% move from the prior day. This move outpaced the S&P 500's daily gain of 0.45%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, added 35%.
Heading into today, shares of the company had gained 27.35% over the past month, outpacing the Business Services sector's gain of 1.31% and the S&P 500's gain of 0.44% in that time.
Wall Street will be looking for positivity from Nu Holdings Ltd. as it approaches its next earnings report date. This is expected to be May 15, 2023. Our most recent consensus estimate is calling for quarterly revenue of $1.51 billion, up 72.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.14 per share and revenue of $7.01 billion, which would represent changes of +250% and +46.22%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Nu Holdings Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.33% lower within the past month. Nu Holdings Ltd. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Nu Holdings Ltd.'s current valuation metrics, including its Forward P/E ratio of 41.57. Its industry sports an average Forward P/E of 21.25, so we one might conclude that Nu Holdings Ltd. is trading at a premium comparatively.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 121, putting it in the top 49% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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