eToro Group (NASDAQ:ETOR) Given New $55.00 Price Target at Bank of America

eToro Group (NASDAQ:ETOR) had its target price raised by Bank of America from $50.00 to $55.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the company. Compass Point began coverage on eToro Group in a report on Monday, October 13th. They set a “buy” rating and a $66.00 price objective on the stock. Keefe, Bruyette & Woods reduced their price target on shares of eToro Group from $65.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 13th. Susquehanna lowered their price objective on shares of eToro Group from $70.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Zacks Research raised shares of eToro Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $78.00 target price on shares of eToro Group in a research report on Thursday, September 11th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, eToro Group presently has a consensus rating of “Moderate Buy” and an average price target of $67.29.

eToro Group Stock Performance

NASDAQ ETOR opened at $41.24 on Tuesday. eToro Group has a 52-week low of $32.66 and a 52-week high of $79.96. The stock’s fifty day moving average is $40.60. The company has a market cap of $3.38 billion and a P/E ratio of 32.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.76 and a quick ratio of 3.76.

eToro Group (NASDAQ:ETOR) last released its earnings results on Monday, November 10th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $214.60 million during the quarter.

Hedge Funds Weigh In On eToro Group

Hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. bought a new position in shares of eToro Group during the second quarter valued at about $43,397,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in eToro Group by 24.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 523,143 shares of the company’s stock valued at $21,590,000 after purchasing an additional 101,938 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in eToro Group during the 2nd quarter valued at approximately $33,812,000. Nikko Asset Management Americas Inc. purchased a new stake in eToro Group in the 2nd quarter worth approximately $27,875,000. Finally, Marshall Wace LLP purchased a new stake in eToro Group in the 2nd quarter worth approximately $17,360,000.

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.