Nu Holdings broke into the U.S. market earlier this month — a move that could push its shares sharply higher, according to Goldman Sachs. The investment firm has a buy rating on the Brazil-based banking name. It also has a $23 price target on shares, suggesting roughly 69% upside from Wednesday’s close. “While the US banking market is one of the most competitive in the world, it has an addressable consumer lending market of $1.5tn, 7 [times] larger than Brazil,” analyst Tito Labarta said Wednesday in a note to clients. “We think NU’s ultra-low cost digital approach with a strong consumer experience could allow it to successfully enter the market.” NU YTD mountain NU in 2026 Goldman Sachs estimates that Nu will boost its earnings by roughly $500 million for every 2% gain in U.S. market share. Any gains stateside should also translate to upside for the banking stock, “if it can contain costs,” Labarta said. The analyst noted that sky-high marketing costs could pose a risk to Nu’s expansion abroad, however. Still, “NU has consistently demonstrated an ability to grow without overspending,” Labarta wrote. Goldman Sachs’ call falls in line with consensus on Wall Street. Of the 18 analysts covering Nu Holdings, 15 have a buy or strong buy rating on the stock, LSEG data shows. Shares are down nearly 19% in 2026. However, the stock was around flat on Thursday, while the broader market struggled.
Goldman predicts this global digital bank that just launched in the U.S. could jump nearly 70%
Sep 24, 2026
