Needham & Company LLC Cuts eToro Group (NASDAQ:ETOR) Price Target to $68.00

eToro Group (NASDAQ:ETOR) had its price objective lowered by Needham & Company LLC from $76.00 to $68.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and set a $78.00 price target on shares of eToro Group in a report on Thursday, September 11th. Citigroup decreased their price objective on eToro Group from $62.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Zacks Research upgraded eToro Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft raised eToro Group from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price target on eToro Group from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, eToro Group has an average rating of “Moderate Buy” and a consensus price target of $66.18.

eToro Group Price Performance

Shares of eToro Group stock opened at $39.26 on Tuesday. The firm has a fifty day simple moving average of $40.35. eToro Group has a 12 month low of $32.66 and a 12 month high of $79.96. The firm has a market cap of $3.22 billion and a PE ratio of 31.41. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.09.

eToro Group (NASDAQ:ETOR) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $214.60 million for the quarter.

Institutional Investors Weigh In On eToro Group

Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc acquired a new position in shares of eToro Group during the 2nd quarter worth $67,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of eToro Group in the second quarter valued at about $82,000. Caitong International Asset Management Co. Ltd purchased a new stake in eToro Group during the second quarter worth about $120,000. SBI Securities Co. Ltd. acquired a new position in eToro Group during the second quarter worth about $128,000. Finally, Jones Financial Companies Lllp increased its holdings in eToro Group by 194.9% in the third quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock valued at $101,000 after buying an additional 1,631 shares in the last quarter.

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.