It It Too Soon to Call a Bottom on Nu Holdings Stock?

BofA and Susquehanna downgraded Nu this week following a change in CFO.

There are near-term margin concerns, but the long-term outlook is compelling with Nu hitting 52-weeks lows this week.

Nu is now trading for less than 11 times next year's earnings, a discount to even much slower-growing fintechs.

This week is not going well for me and my fellow Nu Holdings (NYSE: NU) investors. Shares of NuBank's parent company hit a fresh 52-week intraday low on Tuesday. The stock has fallen 9% over the first two days of the trading week, a contrast to the back-to-back days of slight market upticks.

Nu and several Latin American fintech stocks have fallen out of favor lately. Nu Holdings shares have plummeted nearly 30% so far in 2026. You can blame economic instability and intensifying competition as factors for the cooling, but this week the catalyst for the markdown is pretty clear. Nu has a new CFO, and that was enough to have two major analysts downgrade the Brazilian fintech leader.

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Bank of America analysts led by Mario Pierry downgraded Nu Holdings stock on Tuesday, from neutral to underperform. The firm wasn't bullish before, but now Pierry is solidly bearish on the stock's near-term prospects. Adding insult to injury, he's slashing the price target from $16 to $10, lower than where the stock began trading on Wednesday, even after the Tuesday sell-off.

The knock on Nu centers primarily on the surprise switch of its CFO. Guilherme Lago -- who had been CFO since 2021 -- is leaving the company. He was instrumental in taking Nu public later that year and ushered in the financial discipline that helped Nu deliver rapid and high-margin growth.