NU - Where Will Nu Stock Be in 1 Year?
2024-06-03 07:30:00 ET
Nu Holdings (NYSE: NU) continues to wow investors with its incredible growth. The Brazil-based digital banking platform is adding customers at a fast pace, generating high revenue, and it has become firmly profitable. Nu stock gained 104% last year, and it's already up 46% in 2024.
That is, no doubt, happy news for shareholders -- among them Warren Buffett-led Berkshire Hathaway , which holds the stock in its equity portfolio. So where could the shares be a year from now? And should investors consider buying today?
Nu has been adding customers at a rapid pace. That's not surprising since it provides an all-digital, easy-to-use financial services platform. In its home country of Brazil, the banking market has historically been dominated by five large banks. Nu targets the lower-income population, who may not need all the bells and whistles of a large bank, with low fees and high savings rates.
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Where Will Nu Stock Be in 1 Year?