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Nu (NU) Soars 5.4%: Is Further Upside Left in the Stock?
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Nu Holdings Ltd. (NU - Free Report) shares rallied 5.4% in the last trading session to close at $17.94. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.9% gain over the past four weeks.
NU shares touched a new 52-week high in last day’s trading session. Beyond the technical milestone, investor attention has increasingly centered on the company’s long-term growth opportunity across Latin America. Confidence in NU’s expanding regional footprint and scalable digital banking model likely fueled renewed buying interest, pushing the stock higher.
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $4.56 billion, up 52.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nu , the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NU going forward to see if this recent jump can turn into more strength down the road.
Nu is part of the Zacks Banks - Foreign industry. Bank of Nova Scotia (BNS - Free Report) , another stock in the same industry, closed the last trading session 0.3% higher at $74.72. BNS has returned 4% in the past month.
Bank of Nova Scotia's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.4. Compared to the company's year-ago EPS, this represents a change of +14.8%. Bank of Nova Scotia currently boasts a Zacks Rank of #2 (Buy).
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Nu (NU) Soars 5.4%: Is Further Upside Left in the Stock?
Nu Holdings Ltd. (NU - Free Report) shares rallied 5.4% in the last trading session to close at $17.94. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.9% gain over the past four weeks.
NU shares touched a new 52-week high in last day’s trading session. Beyond the technical milestone, investor attention has increasingly centered on the company’s long-term growth opportunity across Latin America. Confidence in NU’s expanding regional footprint and scalable digital banking model likely fueled renewed buying interest, pushing the stock higher.
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $4.56 billion, up 52.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nu , the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NU going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Nu is part of the Zacks Banks - Foreign industry. Bank of Nova Scotia (BNS - Free Report) , another stock in the same industry, closed the last trading session 0.3% higher at $74.72. BNS has returned 4% in the past month.
Bank of Nova Scotia's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.4. Compared to the company's year-ago EPS, this represents a change of +14.8%. Bank of Nova Scotia currently boasts a Zacks Rank of #2 (Buy).