eToro Group (NASDAQ:ETOR – Get Free Report) had its target price reduced by research analysts at TD Cowen from $35.00 to $33.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential upside of 32.74% from the company’s previous close.
A number of other equities analysts have also recently issued reports on ETOR. Bank of America restated a “neutral” rating on shares of eToro Group in a research report on Monday, October 5th. Keefe, Bruyette & Woods cut their price objective on eToro Group from $45.00 to $35.00 and set a “market perform” rating for the company in a research report on Wednesday, August 12th. Wall Street Zen downgraded eToro Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of eToro Group in a research note on Monday, September 21st. Finally, Needham & Company LLC lowered their target price on eToro Group from $66.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.00.
Read Our Latest Stock Analysis on eToro Group
eToro Group Stock Down 0.7%
eToro Group (NASDAQ:ETOR – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. eToro Group had a return on equity of 20.26% and a net margin of 2.17%. The company had revenue of $1.59 billion for the quarter. During the same period last year, the company posted $0.56 EPS. The firm’s revenue for the quarter was down 23.9% on a year-over-year basis. Analysts anticipate that eToro Group will post 2.53 EPS for the current fiscal year.
Insiders Place Their Bets
In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $31.20, for a total value of $3,120,000.00. Following the completion of the transaction, the director directly owned 196,779 shares in the company, valued at approximately $6,139,504.80. The trade was a 33.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Hedge Funds Weigh In On eToro Group
Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its position in shares of eToro Group by 2.2% during the first quarter. California State Teachers Retirement System now owns 15,331 shares of the company’s stock worth $460,000 after buying an additional 331 shares in the last quarter. Royal Bank of Canada raised its holdings in eToro Group by 6.0% in the first quarter. Royal Bank of Canada now owns 11,801 shares of the company’s stock valued at $354,000 after acquiring an additional 668 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in eToro Group in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its stake in eToro Group by 365.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock valued at $28,000 after acquiring an additional 727 shares during the last quarter. Finally, State of Wyoming boosted its stake in eToro Group by 180.0% during the 1st quarter. State of Wyoming now owns 1,932 shares of the company’s stock valued at $58,000 after acquiring an additional 1,242 shares during the last quarter.
About eToro Group
eToro Group Ltd. is a global trading and investment platform that combines online brokerage services with social investing features. Through its platform, customers can access a range of financial instruments, including stocks, exchange-traded funds, cryptocurrencies and, in certain jurisdictions, contracts for difference and other leveraged products. Product availability varies according to local regulations.
Founded in 2007, eToro developed a community-oriented approach to investing that allows users to view other members’ portfolios and trading activity.
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