eToro Group (NASDAQ:ETOR) Stock Gets Price Target Reduction from TD Cowen

eToro Group (NASDAQ:ETOR) had its target price cut by TD Cowen from $35.00 to $33.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on ETOR. Keefe, Bruyette & Woods reduced their price objective on eToro Group from $45.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, August 12th. Wall Street Zen cut eToro Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of eToro Group in a research note on Monday, September 21st. Needham & Company LLC cut their price target on shares of eToro Group from $66.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Finally, Bank of America restated a “neutral” rating on shares of eToro Group in a research report on Monday, October 5th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

eToro Group Stock Performance

ETOR stock opened at $24.41 on Monday. The firm has a market cap of $2.02 billion, a PE ratio of 8.57, a P/E/G ratio of 0.64 and a beta of 1.79. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $28.89 and a 200-day moving average of $34.45. eToro Group has a 12-month low of $24.11 and a 12-month high of $44.21.

eToro Group (NASDAQ:ETOR) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.59 billion during the quarter. eToro Group had a return on equity of 20.26% and a net margin of 2.17%. The business’s revenue was down 23.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, sell-side analysts expect that eToro Group will post 2.53 earnings per share for the current year.

Insider Activity at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of eToro Group stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $31.20, for a total value of $3,120,000.00. Following the sale, the director owned 196,779 shares of the company’s stock, valued at approximately $6,139,504.80. The trade was a 33.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On eToro Group

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in eToro Group by 2.2% in the 1st quarter. California State Teachers Retirement System now owns 15,331 shares of the company’s stock worth $460,000 after acquiring an additional 331 shares during the last quarter. Royal Bank of Canada raised its stake in eToro Group by 6.0% in the 1st quarter. Royal Bank of Canada now owns 11,801 shares of the company’s stock valued at $354,000 after acquiring an additional 668 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in eToro Group in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its stake in eToro Group by 365.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock valued at $28,000 after acquiring an additional 727 shares during the period. Finally, State of Wyoming lifted its holdings in eToro Group by 180.0% during the first quarter. State of Wyoming now owns 1,932 shares of the company’s stock valued at $58,000 after purchasing an additional 1,242 shares during the last quarter.

eToro Group Company Profile

eToro Group Ltd. is a global trading and investment platform that combines online brokerage services with social investing features. Through its platform, customers can access a range of financial instruments, including stocks, exchange-traded funds, cryptocurrencies and, in certain jurisdictions, contracts for difference and other leveraged products. Product availability varies according to local regulations.

Founded in 2007, eToro developed a community-oriented approach to investing that allows users to view other members’ portfolios and trading activity.