Citizens Jmp Issues Pessimistic Forecast for eToro Group (NASDAQ:ETOR) Stock Price

Key Points

• Citizens Jmp lowered eToro Group’s price target from $90 to $75 while maintaining a “market outperform” rating, implying nearly 197% upside from the prior close.
• Analyst sentiment remains broadly positive, with 11 Buy ratings, six Holds and one Sell; the consensus rating is “Moderate Buy” with an average price target of $48.62.
• eToro beat quarterly earnings expectations with $0.68 EPS versus $0.61 estimated, but revenue fell 23.9% year over year to $1.59 billion. The stock opened at $25.26 and recently traded near its one-year low.

eToro Group (NASDAQ:ETOR - Get Free Report) had its target price reduced by analysts at Citizens Jmp from $90.00 to $75.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's target price would suggest a potential upside of 196.91% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Zacks Research downgraded shares of eToro Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Canaccord Genuity Group reiterated a "buy" rating and issued a $53.00 price target on shares of eToro Group in a research report on Tuesday, September 15th. Keefe, Bruyette & Woods reduced their price target on eToro Group from $45.00 to $35.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 12th. KeyCorp began coverage on eToro Group in a research note on Tuesday, September 1st. They set an "overweight" rating and a $45.00 price objective on the stock. Finally, Susquehanna cut their target price on eToro Group from $57.00 to $51.00 and set a "positive" rating for the company in a research report on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.62.

eToro Group Price Performance

NASDAQ:ETOR opened at $25.26 on Friday. The company has a market cap of $2.09 billion, a P/E ratio of 9.50, a P/E/G ratio of 0.65 and a beta of 1.79. The firm's fifty day moving average price is $29.80 and its two-hundred day moving average price is $34.59. eToro Group has a one year low of $24.74 and a one year high of $44.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.02 and a quick ratio of 4.02.

eToro Group (NASDAQ:ETOR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The business had revenue of $1.59 billion for the quarter. During the same quarter last year, the company posted $0.56 EPS. The firm's quarterly revenue was down 23.9% on a year-over-year basis. Equities analysts expect that eToro Group will post 2.53 earnings per share for the current year.

Insider Buying and Selling at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 196,779 shares of the company's stock, valued at $6,139,504.80. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Hedge Funds Weigh In On eToro Group

A number of institutional investors have recently added to or reduced their stakes in ETOR. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of eToro Group by 61.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,988,552 shares of the company's stock worth $59,716,000 after buying an additional 760,654 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of eToro Group during the 2nd quarter valued at $22,134,000. Bank of New York Mellon Corp bought a new stake in eToro Group during the 1st quarter worth $6,048,000. Intrinsic Edge Capital Management LLC acquired a new position in eToro Group in the 1st quarter worth about $5,706,000. Finally, Saba Capital Management L.P. raised its position in eToro Group by 156.2% in the first quarter. Saba Capital Management L.P. now owns 203,291 shares of the company's stock valued at $6,105,000 after purchasing an additional 123,952 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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