Analyst Consensus ?
ConsensusBuy23 ratings
Bullish1356.5%
Neutral939.1%
Bearish14.4%
Nu Holdings Ltd. · NU · FY2025 Q1 · Calendar Q2 2025
Nu Holdings: Growth and expansion meet near-term margin pressure
The supplied analysis supports a constructive long-term growth narrative driven by customer expansion, secured lending, Mexico and Colombia deposits, and operating leverage. Near-term confidence is tempered by funding costs, provisioning and execution risks.
Reported Before market openNYSEFinancial Services
$70.33B market cap
70quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.12
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $3.23B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.5%
Event window
SPY move
+0.7%
Same window
Abnormal move
+0.8%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-2.9%
Up to 20 sessions
NUSPY benchmark
Ask FN2 about NU FY2025 Q1
Transcript, numbers and history already loaded
What drove NU's +1.5% move after FY2025 Q1 earnings?What changed in NU's guidance and outlook in FY2025 Q1?Give me the bull and bear case for NU after FY2025 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The quarter added emphasis to Mexico's approved banking license, rapid secured-lending growth and AI-enhanced credit models. At the same time, management highlighted short-term margin pressure from higher credit-loss allowances, deposit-funding costs and investment in deposits.
Guidance delta
Management guidance was not provided in the supplied analysis.
Key takeaways
- Customer growth and engagement remained central to the quarter's story, with the customer base reaching 119 million and monthly active users reaching 100 million.
- Mexico's banking-license approval supports expansion of deposits and credit products.
- Secured lending scaled rapidly, while higher funding costs and credit-loss allowances pressured near-term margins.
Management priorities
- Expand secured lending, including private payroll loans.
- Build deposit franchises in Mexico and Colombia.
- Scale AI credit-model capabilities and deepen product usage.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$14.56Current
$7Low
$15.81Average
$22High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 18, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Overweight | Overweight | Maintain | Oct 6, 2026 |
| Needham | Buy | Buy | Maintain | Sep 28, 2026 |
| Itau BBA | Market Perform | Outperform | Downgrade | Sep 16, 2026 |
| Wolfe Research | Outperform | Outperform | Maintain | Aug 25, 2026 |
| UBS | Buy | Buy | Maintain | Aug 20, 2026 |
| Susquehanna | Neutral | Neutral | Maintain | Aug 14, 2026 |
| Citigroup | Neutral | Buy | Downgrade | Jun 15, 2026 |
| B of A Securities | Underperform | Neutral | Downgrade | Jun 2, 2026 |
| Keybanc | Overweight | Overweight | Maintain | Nov 14, 2025 |
| Banco Bradesco BBI S.A | Outperform | Neutral | Upgrade | Aug 25, 2025 |
| Barclays | Overweight | Overweight | Maintain | Apr 25, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Nov 14, 2024 |
| Jefferies | Buy | Buy | Maintain | Jun 24, 2024 |
| New Street Research | Neutral | Buy | Downgrade | Oct 5, 2023 |
| MoffettNathanson | Buy | Buy | Maintain | Apr 5, 2022 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jan 3, 2022 |
| Deutsche Bank | Hold | Hold | Maintain | Feb 12, 2015 |
| Credit Suisse | Neutral | Outperform | Downgrade | Feb 12, 2015 |
| Brean Capital | Hold | Buy | Downgrade | Dec 29, 2014 |
| Argus Research | Buy | Hold | Upgrade | Sep 26, 2013 |
| Wunderlich Securities | Hold | Hold | Maintain | May 2, 2013 |
| Williams Capital | Buy | Buy | Maintain | Aug 5, 2012 |
| ISI Group | Hold | Hold | Maintain | Jun 25, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $14.56. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Redburn Partners | Gonzalo López | $19 | $13.59 | +30.5% | Sep 28, 2026 |
| Wolfe Research | Darrin Peller | $17 | $14.76 | +16.8% | Aug 25, 2026 |
| UBS | Analyst unavailable | $18.2 | $14.61 | +25.0% | Aug 20, 2026 |
| Needham | Kyle Peterson | $19 | $13.93 | +30.5% | Aug 14, 2026 |
| Needham | Kyle Peterson | $17 | $12.46 | +16.8% | Jun 26, 2026 |
| Susquehanna | Analyst unavailable | $13 | $11.93 | -10.7% | Jun 3, 2026 |
| Scotiabank | James Friedman | $13 | $11.93 | -10.7% | Jun 3, 2026 |
| UBS | Analyst unavailable | $16.9 | $12.65 | +16.1% | May 20, 2026 |
| Susquehanna | Analyst unavailable | $22 | $18.18 | +51.1% | Jan 27, 2026 |
| Goldman Sachs | Tito Labarta | $21 | $15.86 | +44.2% | Dec 18, 2025 |
| UBS | Thiago Batista | $18.4 | $17.44 | +26.4% | Dec 4, 2025 |
| Banco Santander | Analyst unavailable | $22 | $17.44 | +51.1% | Dec 4, 2025 |
| KeyBanc | Alex Markgraff | $19 | $16 | +30.5% | Nov 14, 2025 |
| UBS | Analyst unavailable | $16 | $15.18 | +9.9% | Oct 16, 2025 |
| UBS | Thiago Batista | $15.6 | $14.86 | +7.1% | Sep 2, 2025 |
| Bradesco | Analyst unavailable | $17 | $14.23 | +16.8% | Aug 25, 2025 |
| Banco Santander | Analyst unavailable | $16 | $13.94 | +9.9% | Aug 25, 2025 |
| Susquehanna | James Friedman | $16 | $13.34 | +9.9% | Jul 16, 2024 |
| Barclays | John Coffey | $15 | $12.5 | +3.0% | Jun 26, 2024 |
| Jefferies | Inigo Vega | $15.2 | $11.79 | +4.4% | Jun 24, 2024 |
| UBS | Thiago Batista | $13.5 | $11.71 | -7.3% | May 16, 2024 |
| Susquehanna | James Friedman | $14 | $11.55 | -3.8% | May 15, 2024 |
| HSBC | Neha Agarwala | $10 | $8.75 | -31.3% | Jan 8, 2024 |
| Goldman Sachs | Analyst unavailable | $9.5 | $4.06 | -34.8% | Dec 6, 2022 |
| Citigroup | Analyst unavailable | $7 | $4.12 | -51.9% | Jul 25, 2022 |
| Susquehanna | James Friedman | $10 | $4.6 | -31.3% | May 13, 2022 |
| Morgan Stanley | Jorge Kuri | $16 | $9.98 | +9.9% | Jan 3, 2022 |
| KeyBanc | Alex Markgraff | $12 | $9.98 | -17.6% | Jan 3, 2022 |
| Goldman Sachs | Mike Ng | $15 | $9.98 | +3.0% | Jan 3, 2022 |
Track every rating change on NU the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationNu Holdings Ltd. provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States. The company provides spending solutions comprising Nu credit and prepaid card, a digitally enabled card that acts as a credit and a prepaid card; Nubank+ Tier, an evolution of the Nu experience; Ultraviolet credit and prepaid card, a premium metal credit card; mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones; and Nu Shopping, an integrated marketplace that enables customers to purchase goods and services from various ecommerce retailers. It also offers transactional solutions, such as Nu Personal Accounts, a digital account solution for personal financial activities; Nu business accounts for entrepreneur customers and their businesses; and Nu business prepaid and credit card.…
Historical context
All NU earningsFinancial Services peers this season
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| RF-PE Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee Growth and Credit Quality Support Q3 |
| RF-PC Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee growth supports a steady Q3 outlook |
| TFC-PI Truist Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | -50.9% | — | Truist sharpens focus as Q3 EPS rises 12% |
| TRV The Travelers Companies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +24.2% | +1.5% | Travelers posts strong Q3, with investment income above $900 million |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-04-29T00:02:51.244038+00:00
- Polygon adjusted daily market bars · 2026-10-18T00:40:40.765219+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-18T00:40:40.762491+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-18. For educational purposes only; not investment advice.