Needham & Company LLC Raises eToro Group (NASDAQ:ETOR) Price Target to $66.00

eToro Group (NASDAQ:ETORGet Free Report) had its price objective raised by Needham & Company LLC from $58.00 to $66.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 75.49% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. TD Cowen lowered their target price on eToro Group from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Jefferies Financial Group increased their price target on shares of eToro Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Mizuho lowered their price objective on shares of eToro Group from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, January 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $52.00 price objective on shares of eToro Group in a research note on Monday, February 23rd. Finally, Canaccord Genuity Group cut their target price on shares of eToro Group from $78.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.06.

Check Out Our Latest Stock Analysis on eToro Group

eToro Group Stock Performance

Shares of eToro Group stock opened at $37.61 on Wednesday. eToro Group has a 12 month low of $24.74 and a 12 month high of $79.96. The company has a quick ratio of 4.89, a current ratio of 4.89 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.12 billion and a PE ratio of 16.94. The business has a fifty day simple moving average of $33.16 and a 200-day simple moving average of $34.25.

eToro Group (NASDAQ:ETORGet Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.21. The firm had revenue of $2.44 billion for the quarter. eToro Group had a return on equity of 21.35% and a net margin of 1.56%.The firm’s quarterly revenue was down 35.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, sell-side analysts anticipate that eToro Group will post 2.55 EPS for the current fiscal year.

Institutional Trading of eToro Group

A number of institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of eToro Group during the 4th quarter worth $25,000. Blue Trust Inc. acquired a new stake in shares of eToro Group in the 4th quarter valued at $42,000. Newbridge Financial Services Group Inc. boosted its holdings in eToro Group by 45.1% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock worth $74,000 after purchasing an additional 555 shares in the last quarter. Jones Financial Companies Lllp increased its position in eToro Group by 194.9% during the third quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock worth $101,000 after buying an additional 1,631 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in eToro Group during the third quarter worth $124,000.

About eToro Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for eToro Group (NASDAQ:ETOR)

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