NEW YORK, May 27, 2026, 18:04 EDT
- Nu Holdings traded between $12.94 and $13.18 before settling last at $13.03, up around 0.4%.
- Nubank said its Colombia business now has 5 million customers and expects to invest about $130 million in the country in 2026.
- The stock is still off more than 20% this year. Credit quality, expenses, and growth in Latin America remain in focus.
Nu Holdings Ltd. shares ticked up Wednesday, with investors digesting an update on Nubank’s Colombia push while keeping an eye on recent analyst price-target cuts and ongoing worries over loan-loss reserves.
Nu Holdings (NU) traded up 0.4% to $13.03 on the NYSE, with nearly 48 million shares changing hands. Gains were small, but the stock held up better than the iShares MSCI Brazil ETF, which dropped 1.0%. Nu outperformed its Brazil peers in a weak session for the sector.
Nubank pushes to prove it can keep growing outside Brazil without giving up its low-cost model. Colombia delivered new numbers this week—5 million customers, deposits above 10 trillion pesos, and a COP 473 billion commitment this year, or about $130 million.
Nu shares finished at $13.03 on Wednesday, up 0.39% for the day according to MarketScreener, after Reuters said Tuesday that Brazil’s Nubank will put about $130 million into Colombia this year. The stock is still down 22.16% since the start of the year.
Nu Colombia General Manager Marcela Torres said “five million people in Colombia have chosen Nu,” and nearly 1 million of them had gotten their first credit card from the company. Torres said Nu plans to keep investing to grow its product lineup and push for a more modern, competitive financial sector. Nu International
Stock barely moved. Shares held to a tight range and are still far under the 52-week high of $18.98, market data shows. Investors see strong customer and revenue gains, but worries about rising credit costs are taking the edge off the trade.
Nu broke past $5 billion in quarterly revenue for the first time, posting net income of $871 million and a 29% return on equity. Customer count went over 135 million. More than 115 million are in Brazil, 15 million in Mexico and close to 5 million in Colombia.
Chief Executive David Vélez keeps pushing artificial intelligence as key to the company’s story. On the earnings call, Vélez said Nu was “rebuilding banking around AI.” He said the bank already uses AI models to make credit-card calls in Brazil and Mexico and for unsecured loans in Brazil. Investing.com
Credit concerns stayed in focus. Nu reported its credit loss allowance climbed 33% over the last quarter to $1.79 billion. Risk-adjusted net interest margin dropped, coming in at 9.5% compared to 10.5%.
That’s the downside. If early delinquencies go above typical first-quarter levels, or if Nu moves too quickly with riskier customers and outruns its underwriting, the market might ignore growing customer numbers and focus on squeezed margins. More spending on AI, U.S. pilots, and Latin America could also leave less margin for mistakes.
UBS kept a Buy on Nu but trimmed its price target to $16.90 from $18.10. BofA moved its target down to $16 from $17 and stuck with a Neutral call, pointing to weak earnings in the latest quarter. Analysts are still broadly constructive, though some firms are adjusting after the report, according to stock-news and ratings summaries.
Peer stocks showed no clear direction. Brazil’s PagSeguro added 0.7%, and SoFi in the U.S. gained 1.2%. The S&P 500 ETF held almost unchanged, while the Nasdaq 100 QQQ dropped 0.1%. Nu’s rise looked tied to its own story, not a sector move.
Right now, Nu is getting a bit of credit from the market on size, but that’s about it. The real question is if Colombia and Mexico can keep growing users while Brazil’s credit book doesn’t drag on the earnings story.
