Nu Holdings entered the U.S. market earlier this month, a move Goldman Sachs says could drive a sharp rise in its shares. The investment firm maintains a buy rating and a $23 price target, implying roughly 69% upside from Wednesday's close. Goldman Sachs analyst Tito Labarta said the U.S. consumer lending market is worth $1.5 trillion, or seven times Brazil's, and argued that Nu's low-cost digital approach and consumer experience could support the expansion. Goldman Sachs estimates Nu could increase earnings by roughly $500 million for every 2% gain in U.S. market share, provided it contains costs. Labarta identified high marketing expenses as a risk but said Nu has consistently expanded without overspending. Wall Street sentiment is broadly positive: 15 of 18 analysts covering the company have a buy or strong buy rating, according to LSEG data. Nu shares are down nearly 19% in 2026 but were roughly flat on Thursday as the broader market struggled.