eToro Group (NASDAQ:ETOR) Releases Earnings Results, Beats Estimates By $0.07 EPS

eToro Group (NASDAQ:ETOR) announced its earnings results on Tuesday. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07, Briefing.com reports. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. During the same quarter last year, the firm earned $0.56 EPS. The company’s revenue was down 23.9% on a year-over-year basis.

eToro Group Price Performance

ETOR stock opened at $34.00 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.92 and a current ratio of 3.92. The stock’s 50 day moving average price is $38.21 and its 200 day moving average price is $34.96. The firm has a market cap of $2.82 billion, a P/E ratio of 14.23, a PEG ratio of 0.76 and a beta of 1.68. eToro Group has a 1 year low of $24.74 and a 1 year high of $58.82.

Analysts Set New Price Targets

Several analysts have commented on ETOR shares. Keefe, Bruyette & Woods upped their price objective on eToro Group from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. TD Cowen lifted their target price on eToro Group from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wall Street Zen raised eToro Group from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Citizens Jmp upped their price target on eToro Group from $85.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group upped their price objective on shares of eToro Group from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.80.

Insider Activity

In other news, CEO Hedva Ber sold 55,160 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $41.90, for a total value of $2,311,204.00. Following the completion of the sale, the chief executive officer owned 20,660 shares of the company’s stock, valued at $865,654. This represents a 72.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shalev Eddy sold 100,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $41.26, for a total transaction of $4,126,000.00. Following the completion of the sale, the director directly owned 296,779 shares of the company’s stock, valued at $12,245,101.54. This trade represents a 25.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Trading of eToro Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. grew its position in shares of eToro Group by 14,120.4% in the 4th quarter. Invesco Ltd. now owns 974,243 shares of the company’s stock worth $34,225,000 after acquiring an additional 967,392 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in eToro Group by 67.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company’s stock worth $59,571,000 after purchasing an additional 683,008 shares during the period. Balyasny Asset Management L.P. bought a new stake in eToro Group during the second quarter valued at $43,397,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of eToro Group during the second quarter worth $33,812,000. Finally, Marex Group plc raised its holdings in shares of eToro Group by 291.3% during the fourth quarter. Marex Group plc now owns 605,205 shares of the company’s stock worth $21,261,000 after purchasing an additional 450,540 shares during the period.

About eToro Group

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.