NEW YORK, June 28, 2026, 16:04 EDT
- Nu Holdings Ltd. NYSE:NU jumped 5.7% Friday, finishing at $13.17. That move reversed its losses from earlier in the week, putting shares up 3.6% for the week.
- The Nasdaq Composite (INDEXNASDAQ:.IXIC) dropped 4.6% over the week, while the S&P 500 (INDEXSP:.INX) fell 2%.
- Needham cut its price target to $17, which now points to a 29% gain from Friday’s close. That’s down from roughly 36% before shares jumped on Friday.
- U.S. cash trading is closed for the weekend. NYSE markets will also shut down July 3 for the Independence Day holiday, making next week a short one.
Nu Holdings Ltd. NYSE:NU, the owner of Nubank, was closed Sunday. The NYSE’s main session is from 9:30 a.m. to 4 p.m. ET. The exchange has Friday, July 3, down as a market holiday for Independence Day in 2026.
Nu’s move last week came in a single day. Shares finished Friday at $13.17, up 5.70%, with volume at 54.75 million. Thursday’s close was $12.46. On June 18, before the Juneteenth holiday, Nu ended at $12.71. Before Friday’s bounce, shares were off about 2.0% for the week. Friday alone drove the full weekly gain.
| Asset or index | Friday close | Friday change | Week change |
|---|---|---|---|
| Nu Holdings Ltd. NYSE:NU | $13.17 | rose 5.70% | added 3.6% |
| iShares MSCI Brazil ETF (NYSEARCA:EWZ) | $34.67 | up 1.43% | gained 2.8% |
| S&P 500 (INDEXSP:.INX) | 7,354.02 | closed off less than 0.1% | fell 2.0% |
| Nasdaq Composite (INDEXNASDAQ:.IXIC) | 25,297.62 | dropped 0.2% | lost 4.6% |
The split is worth noting as Nu outperformed both Brazil and U.S. benchmarks. The iShares MSCI Brazil ETF rose 2.8% from June 18 to June 26, but the Nasdaq lost 4.6% for the week, weighed by weakness in AI names.
Needham’s Kyle Peterson initiated coverage of Nu with a Buy and set a $17 target on Friday. Peterson called Nu’s customer base “scaled and profitable” in a note picked up by StreetInsider, and said he sees U.S. operations likely to kick off in the next year. StreetInsider.com
Friday’s surge shifted the numbers. Needham’s $17 target had been roughly 36% above the $12.46 close on Thursday. With Friday’s finish at $13.17, that gap narrowed to 29%. The close was $3.83 under the Needham target, not $4.54.
| Target measure | Price target | Gap vs Friday close |
|---|---|---|
| Needham sees target | $17.00 | +29.1% |
| Average of 22 ratings | $17.41 | +32.2% |
| Median target sits at | $18.00 | +36.7% |
| Lowest target | $10.00 | -24.1% |
| Highest at | $22.00 | +67.0% |
Analyst opinions on Nu are mixed. MarketWatch has an average price target at $17.41, with a median of $18, the range running from $10 to $22 across 22 ratings. So far this year, Nu shares are still off 21.33% even after a rebound on Friday.
Nu’s latest numbers show why analysts are still split on the stock’s multiple. In May, the company said first-quarter revenue topped $5 billion for the first time, with net income at $871 million and return on equity at 29%. Nu now has over 135 million customers. CEO David Vélez said the company is “rebuilding banking around AI” and that its models help “grow limits with resilience, not just speed.” Nu International
Nu’s board set a minimum capital return, but it’s not big. The company approved up to $1.0 billion in Class A share buybacks over 12 months starting June 4. Nu said investments for growth in Brazil, Mexico, Colombia, and the U.S. are still funded. At Friday’s roughly $63 billion market cap, the buyback comes to about 1.6% of equity.
Nu gets four standard U.S. trading days this week ahead of the July 3 break. The latest U.S. jobs data will hit Thursday, coming a day sooner since markets shut Friday for the holiday.
There’s another key date just after. Rob Livingston, who was North America CFO at Visa Inc. NYSE:V, steps in as Nu’s CFO starting July 13. Guilherme Lago will help with the handoff until Aug. 31.
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