eToro Group (NASDAQ:ETOR – Get Free Report) had its price objective dropped by research analysts at UBS Group from $50.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential upside of 20.34% from the stock’s current price.
ETOR has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their price objective on shares of eToro Group from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald lowered their target price on shares of eToro Group from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday. The Goldman Sachs Group lifted their target price on shares of eToro Group from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Zacks Research cut shares of eToro Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of eToro Group in a research report on Tuesday, June 9th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.47.
Get Our Latest Analysis on ETOR
eToro Group Trading Down 0.8%
eToro Group (NASDAQ:ETOR – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. The business had revenue of $1.59 billion for the quarter. During the same period last year, the company posted $0.56 earnings per share. The company’s revenue was down 23.9% compared to the same quarter last year. As a group, sell-side analysts forecast that eToro Group will post 2.81 EPS for the current fiscal year.
Insider Activity
In related news, Director Shalev Eddy sold 100,000 shares of eToro Group stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $41.26, for a total transaction of $4,126,000.00. Following the sale, the director directly owned 296,779 shares of the company’s stock, valued at $12,245,101.54. This trade represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hedva Ber sold 55,160 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.90, for a total value of $2,311,204.00. Following the transaction, the chief executive officer owned 20,660 shares in the company, valued at $865,654. This represents a 72.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Institutional Trading of eToro Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in eToro Group during the fourth quarter valued at approximately $43,136,000. Sei Investments Co. acquired a new position in shares of eToro Group in the 1st quarter worth approximately $2,579,000. Ibex Investors LLC raised its holdings in shares of eToro Group by 1,016.9% in the 4th quarter. Ibex Investors LLC now owns 450,000 shares of the company’s stock worth $15,808,000 after buying an additional 409,711 shares in the last quarter. Saba Capital Management L.P. lifted its position in shares of eToro Group by 156.2% during the 1st quarter. Saba Capital Management L.P. now owns 203,291 shares of the company’s stock worth $6,105,000 after buying an additional 123,952 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of eToro Group by 51.9% during the 1st quarter. Renaissance Technologies LLC now owns 292,950 shares of the company’s stock worth $8,797,000 after buying an additional 100,100 shares during the period.
eToro Group News Summary
Here are the key news stories impacting eToro Group this week:
- Positive Sentiment: eToro reported second-quarter adjusted earnings of $0.68 per share, exceeding the $0.61 consensus estimate, while revenue also topped expectations. The company highlighted record assets under administration and continued customer growth. Reuters earnings report
- Positive Sentiment: Analysts remain bullish despite reducing their forecasts: Mizuho cut its price target to $52 from $60 while maintaining an “outperform” rating; Cantor Fitzgerald lowered its target to $53 from $61 with an “overweight” rating; and Needham reduced its target to $53 from $66 while retaining a “buy” rating. Mizuho analyst update
- Neutral Sentiment: eToro agreed to acquire U.S.-focused online brokerage TradeZero in a cash-and-stock transaction valued at up to $231 million. Management expects the deal to accelerate U.S. expansion, broaden products and strengthen its competitive position, but investors are assessing the integration and financing risks. TradeZero acquisition article
- Negative Sentiment: The earnings report showed a 23.9% year-over-year revenue decline, despite the EPS beat. The TradeZero announcement triggered a sharp selloff, indicating that the market viewed the acquisition’s cost and execution uncertainty as outweighing the near-term earnings strength. eToro earnings and TradeZero reaction
- Negative Sentiment: The coordinated reductions in analyst price targets suggest expectations have been moderated, even though the new targets remain substantially above the current trading level.
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.
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