Nu Holdings Ltd. (NYSE:NU) has declined roughly 25% year-to-date, however, the Street sees more than 41% upside from the current levels.
The stock recently gained back some of its losses after announcing a $1 billion share buyback program
Nu Holdings Ltd. (NYSE:NU) is also one of the Stocks Expected to Bounce Back According to Analysts. While 81% of the 21 analysts covering the stock maintain a Buy rating. Recently, on June 15, Citi downgraded the stock from Buy to Hold and lowered the price target from $18 to $13.
Citi noted that Nubank’s growth is increasingly coming at a cost. This is because the company leans heavily on credit to drive expansion. Citi believes this will weigh on monetization and profitability.