Needham Initiates Nu Holdings (NU) at Buy

Nu Holdings Ltd. (NYSE:NU) is one of the 10 Most Promising Fintech Stocks to Buy Now. On June 26, Needham initiated coverage on Nu Holdings Ltd. (NYSE:NU), giving the stock a Buy rating and setting the price target at $17.

The research firm pointed out that the company operates as a neobank and a digital lending platform with a strong focus on Brazil. According to Needham, Nu Holdings Ltd. (NYSE:NU) is the world’s largest neobank, serving more than 135 million customers. It has a leading position in Brazil, where about 60% of the country’s adult population uses its platform.

Needham Initiates Nu Holdings (NU) at Buy

The firm noted that Nu Holdings Ltd.’s (NYSE:NU) large and profitable customer base can support its growth in other Latin American markets, including Mexico and Colombia. Needham also pointed to the company’s strategic investment in Tyme, a large neobank operating in South Africa and the Philippines.

Needham also said it expects Nu Holdings Ltd. (NYSE:NU) to begin operating in the United States within the next year through organic expansion.

Nu Holdings Ltd. (NYSE:NU) is a financial technology company that operates a digital banking platform. The company has a fully digital model and offers a wide range of financial services to customers in Brazil, Mexico, and Colombia.

While we acknowledge the risk and potential of NU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NU and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 12 Most Profitable Cheap Stocks to Buy Right Now and Top 10 Hot Stocks with the Highest Upside Potential.

Disclosure: None.  Follow Insider Monkey on Google News.

1281292 - 11759070 - 1