eToro Group (NASDAQ:ETOR) Hits New 12-Month Low – Here’s Why

Shares of eToro Group Ltd. (NASDAQ:ETOR) hit a new 52-week low on Thursday . The company traded as low as $32.63 and last traded at $32.64, with a volume of 899393 shares changing hands. The stock had previously closed at $33.28.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ETOR shares. Deutsche Bank Aktiengesellschaft raised shares of eToro Group from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, November 11th. Needham & Company LLC decreased their price target on shares of eToro Group from $68.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, December 29th. Bank of America raised their price objective on eToro Group from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. The Goldman Sachs Group cut eToro Group from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research note on Monday, January 5th. Finally, Mizuho decreased their target price on eToro Group from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, eToro Group has a consensus rating of “Moderate Buy” and an average target price of $64.71.

eToro Group Trading Down 2.8%

The business’s 50-day simple moving average is $37.76 and its two-hundred day simple moving average is $45.26. The company has a current ratio of 4.63, a quick ratio of 4.63 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.59 billion and a PE ratio of 17.09.

eToro Group (NASDAQ:ETOR) last announced its earnings results on Monday, November 10th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $214.60 million for the quarter. eToro Group had a return on equity of 25.75% and a net margin of 1.31%.

Hedge Funds Weigh In On eToro Group

Several institutional investors and hedge funds have recently made changes to their positions in ETOR. American Century Companies Inc. bought a new stake in eToro Group during the second quarter valued at $6,665,000. Guild Investment Management Inc. bought a new position in shares of eToro Group in the 2nd quarter worth about $1,468,000. Federated Hermes Inc. acquired a new position in shares of eToro Group in the 2nd quarter valued at about $11,320,000. Norges Bank acquired a new position in shares of eToro Group in the 2nd quarter valued at about $16,315,000. Finally, TD Asset Management Inc bought a new stake in shares of eToro Group during the 2nd quarter valued at about $7,499,000.

eToro Group Company Profile

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.