NEW YORK, June 16, 2026, 19:05 (EDT)
- Nu ended the day up 2.33% at $12.72. The stock eased back a bit after hours.
- Citi downgraded Nu to Neutral from Buy and dropped its target price to $13, down from $18.
- The big moving parts are still credit quality, profit per loan, and the CFO handover set for July.
Nu Holdings Ltd. shares gained Tuesday, bouncing off recent lows after Citigroup cut its rating on the stock again. Nubank closed up 2.33% at $12.72, then slipped to $12.70 in late trading. About 59.4 million shares changed hands.
The change followed the main NYSE session, open from 9:30 a.m. to 4 p.m. ET, while after-hours trading keeps going until 8 p.m. ET. The exchange lists Friday, June 19, as a holiday for Juneteenth in 2026, which will shorten that week for U.S. equities.
Stock action is in focus after the Nasdaq Composite and S&P 500 dropped Tuesday, pressured by tech shares, while the Dow Jones Industrial Average closed at another record, according to Reuters. Against that market backdrop, Nu’s move stands out as a stock-specific rebound rather than just a market-driven rise.
Citigroup downgraded Nubank to Neutral from Buy on June 15 and lowered its price target to $13 from $18. The bank said Nubank’s business leans on credit cards and personal loans, putting it at higher risk if borrowers have less money after paying other bills.
The stock has yet to recover. As of Tuesday’s close, it was still off 24.01% so far this year, according to MarketScreener, despite a 9.66% climb over the past five sessions.
Itaú Unibanco’s U.S. shares barely moved and Bradesco fell roughly 0.4% in New York trading. Nu outperformed the other Brazilian financials on the day, but that wasn’t enough to settle ongoing worries about its credit, margins and what it’s spending on growth.
Nu’s June 4 buyback plan is one support. The board cleared repurchases of up to $1 billion of Class A shares over the next year. Buybacks use cash to buy back shares. Doing that can help per-share figures but doesn’t require the company to make any actual purchases.
Nu is still chasing growth — first-quarter revenue hit $5 billion, a new high, and customers are now over 135 million. Return on equity was 29%. “Another strong quarter,” founder and CEO David Vélez said. Nu International
But risk is still on the table. BofA Securities analyst Mario Pierry wrote that Guilherme Lago, the outgoing CFO, was “one of the company’s most important executives,” and said the transition timing “adds uncertainty.” Higher Brazilian credit costs, or bigger cash demands in Mexico, Colombia or the U.S., could wipe out Tuesday’s gains just as fast. Investing.com
Finance handover is set as the next big step. Nu said Rob Livingston, who previously worked at Visa, takes over as CFO on July 13. Lago shifts to special adviser for the transition, staying on through Aug. 31.
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