Caitong International Asset Management Co. Ltd Makes New Investment in eToro Group Ltd. $ETOR

Caitong International Asset Management Co. Ltd bought a new position in shares of eToro Group Ltd. (NASDAQ:ETOR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,803 shares of the company’s stock, valued at approximately $120,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc acquired a new position in shares of eToro Group during the second quarter worth $67,000. Phoenix Financial Ltd. acquired a new position in shares of eToro Group during the second quarter worth $248,000. PFG Investments LLC acquired a new position in shares of eToro Group during the second quarter worth $278,000. Atria Wealth Solutions Inc. acquired a new position in shares of eToro Group during the second quarter worth $289,000. Finally, Meitav Investment House Ltd. acquired a new position in shares of eToro Group during the second quarter worth $366,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group cut their price target on shares of eToro Group from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $78.00 price target on shares of eToro Group in a report on Thursday, September 11th. Susquehanna cut their price target on shares of eToro Group from $70.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Needham & Company LLC cut their price target on shares of eToro Group from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Finally, UBS Group dropped their target price on shares of eToro Group from $70.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.76.

eToro Group Stock Performance

ETOR stock opened at $39.27 on Friday. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.09. eToro Group Ltd. has a 12-month low of $37.25 and a 12-month high of $79.96. The firm has a fifty day moving average price of $42.57.

eToro Group (NASDAQ:ETOR) last released its earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The firm had revenue of $209.63 million during the quarter, compared to analyst estimates of $194.60 million. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year.

eToro Group Company Profile

Our mission is to open the global markets, connect our users to leading investors and give them the tools they need to grow their knowledge and wealth. The global financial markets are widely recognized as one of the greatest paths to wealth creation, although they have historically been opaque and inaccessible to many.