eToro Group (NASDAQ:ETOR) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of eToro Group (NASDAQ:ETOR) from a buy rating to a hold rating in a report published on Saturday.

ETOR has been the topic of several other reports. Susquehanna reduced their price target on eToro Group from $57.00 to $51.00 and set a “positive” rating on the stock in a research report on Thursday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $65.00 price objective on shares of eToro Group in a research report on Tuesday, June 9th. Citizens Jmp boosted their target price on shares of eToro Group from $85.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods reduced their target price on shares of eToro Group from $45.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 12th. Finally, Cantor Fitzgerald decreased their target price on shares of eToro Group from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.27.

eToro Group Trading Down 1.6%

NASDAQ:ETOR opened at $28.12 on Friday. The business’s 50-day moving average is $37.14 and its two-hundred day moving average is $34.87. The firm has a market capitalization of $2.33 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.73 and a beta of 1.68. eToro Group has a 12 month low of $24.74 and a 12 month high of $48.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.02 and a quick ratio of 4.02.

eToro Group (NASDAQ:ETOR) last issued its earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. eToro Group had a return on equity of 20.26% and a net margin of 2.17%.The company had revenue of $1.59 billion during the quarter. During the same period in the previous year, the company earned $0.56 EPS. eToro Group’s quarterly revenue was down 23.9% on a year-over-year basis. Research analysts predict that eToro Group will post 2.81 earnings per share for the current fiscal year.

Insider Transactions at eToro Group

In other eToro Group news, CEO Hedva Ber sold 55,160 shares of eToro Group stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the sale, the chief executive officer directly owned 20,660 shares in the company, valued at $865,654. The trade was a 72.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On eToro Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new position in eToro Group during the 4th quarter valued at $43,136,000. Sei Investments Co. bought a new stake in shares of eToro Group in the 1st quarter worth about $2,579,000. Ibex Investors LLC increased its position in shares of eToro Group by 1,016.9% in the 4th quarter. Ibex Investors LLC now owns 450,000 shares of the company’s stock worth $15,808,000 after purchasing an additional 409,711 shares during the last quarter. Saba Capital Management L.P. raised its stake in shares of eToro Group by 156.2% in the 1st quarter. Saba Capital Management L.P. now owns 203,291 shares of the company’s stock valued at $6,105,000 after purchasing an additional 123,952 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of eToro Group in the 1st quarter valued at about $6,048,000.

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.