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Nu Holdings Ltd. (NU) closed at $4.87 in the latest trading session, marking a -1.22% move from the prior day. This change lagged the S&P 500’s daily gain of 1.36%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq lost 0.06%.
Coming into today, shares of the company had gained 5.12% in the past month. In that same time, the Business Services sector gained 0.09%, while the S&P 500 gained 1.2%.
Nu Holdings Ltd. will be looking to display strength as it nears its next earnings release, which is expected to be November 14, 2022.
NU’s full-year Zacks Consensus Estimates are calling for earnings of $0.01 per share and revenue of $4.57 billion. These results would represent year-over-year changes of 0% and +169.18%, respectively.
It is also important to note the recent changes to analyst estimates for Nu Holdings Ltd.These revisions help to show the ever-changing nature of near-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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Nu Holdings Ltd. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Nu Holdings Ltd. currently has a Forward P/E ratio of 369.75. Its industry sports an average Forward P/E of 22.19, 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 131, putting it in the bottom 49% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NU in the coming trading sessions, be sure to utilize Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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