eToro Group (NASDAQ:ETOR) Shares Gap Up After Strong Earnings

Shares of eToro Group Ltd. (NASDAQ:ETOR) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.46, but opened at $31.41. eToro Group shares last traded at $31.84, with a volume of 1,244,053 shares trading hands.

The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. eToro Group had a return on equity of 25.75% and a net margin of 1.31%.The company had revenue of $3.87 billion for the quarter.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Mizuho decreased their price objective on eToro Group from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, January 16th. Canaccord Genuity Group reissued a “buy” rating and issued a $78.00 price target on shares of eToro Group in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft upgraded shares of eToro Group from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, November 11th. Needham & Company LLC decreased their target price on shares of eToro Group from $68.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, December 29th. Finally, UBS Group dropped their price target on shares of eToro Group from $58.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.65.

Institutional Trading of eToro Group

Several large investors have recently added to or reduced their stakes in ETOR. ExodusPoint Capital Management LP acquired a new stake in shares of eToro Group during the fourth quarter worth approximately $246,000. Royal Bank of Canada grew its position in eToro Group by 579.7% during the 4th quarter. Royal Bank of Canada now owns 11,133 shares of the company’s stock worth $391,000 after acquiring an additional 9,495 shares during the last quarter. Rothschild Wealth LLC acquired a new stake in eToro Group during the 4th quarter valued at $420,000. Verition Fund Management LLC bought a new position in eToro Group in the 4th quarter valued at $3,077,000. Finally, Mariner LLC bought a new position in eToro Group in the 4th quarter valued at $347,000.

eToro Group Trading Up 15.4%

The company has a market cap of $2.60 billion and a price-to-earnings ratio of 17.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.63 and a quick ratio of 4.63. The business has a 50 day simple moving average of $32.61 and a 200 day simple moving average of $39.22.

eToro Group Company Profile

eToro Group Ltd. (NASDAQ: ETOR) is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.