Jun. 3 at 11:55 PM
Nu Holdings shares fell to their lowest level since April 2025 after Susquehanna downgraded the stock to Neutral from Positive and cut its price target to
$13 from
$18, citing weaker margins, rising credit risks, and concerns about the company’s profitability as it expands internationally.
The fintech’s shares declined on Wednesday, extending their year-to-date loss to over 33%. Susquehanna noted that first-quarter operating margins fell to 19.2%, down 760 basis points, while loan-loss provisions rose 33% quarter-over-quarter to roughly
$1.8 billion. The firm also highlighted Nubank’s growing exposure to credit cards and unsecured lending, which accounted for nearly all incremental loan originations during the quarter.
Investor concerns have also intensified following the departure of CFO Guilherme Lago. His replacement, former Visa executive Rob Livingston, is expected to accelerate Nubank’s international expansion strategy across markets including Mexico, Colombia, and the U.S.
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