eToro Group (NASDAQ:ETOR) Given New $33.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered its eToro price target to $33 from $35 while maintaining a “buy” rating, implying 32.21% upside from the prior close.
• Analyst sentiment remains broadly positive, with 11 buy ratings, six holds and one sell rating; the consensus rating is “Moderate Buy” with an average target of $48.50.
• eToro shares fell 3.6% to $24.96, near their 52-week low. The company recently beat quarterly earnings expectations with $0.68 EPS versus $0.61 expected, although revenue declined 23.9% year over year.

eToro Group (NASDAQ:ETOR - Get Free Report) had its price objective reduced by TD Cowen from $35.00 to $33.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's target price suggests a potential upside of 32.21% from the stock's previous close.

Several other analysts have also recently commented on the stock. Mizuho decreased their price target on shares of eToro Group from $52.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, September 18th. Susquehanna dropped their price objective on shares of eToro Group from $57.00 to $51.00 and set a "positive" rating on the stock in a research note on Thursday, August 13th. UBS Group cut their target price on shares of eToro Group from $50.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, August 12th. KeyCorp assumed coverage on shares of eToro Group in a research note on Tuesday, September 1st. They set an "overweight" rating and a $45.00 target price for the company. Finally, Wall Street Zen cut shares of eToro Group from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, eToro Group has an average rating of "Moderate Buy" and an average target price of $48.50.

eToro Group Trading Down 3.6%

ETOR stock traded down $0.94 during mid-day trading on Monday, reaching $24.96. 514,387 shares of the stock traded hands, compared to its average volume of 1,173,355. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.07 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.67 and a beta of 1.79. eToro Group has a 52-week low of $24.74 and a 52-week high of $44.21. The stock's fifty day moving average is $29.60 and its 200-day moving average is $34.56.

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

Insider Transactions at eToro Group

In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $31.20, for a total value of $3,120,000.00. Following the completion of the sale, the director directly owned 196,779 shares of the company's stock, valued at $6,139,504.80. The trade was a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its stake in shares of eToro Group by 2.2% during the 1st quarter. California State Teachers Retirement System now owns 15,331 shares of the company's stock worth $460,000 after acquiring an additional 331 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of eToro Group by 6.0% during the 1st 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 during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of eToro Group in the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of eToro Group by 365.3% in 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 in the last quarter. Finally, State of Wyoming lifted its holdings in eToro Group by 180.0% in the 1st quarter. State of Wyoming now owns 1,932 shares of the company's stock worth $58,000 after purchasing an additional 1,242 shares during the last quarter.

eToro Group Company Profile

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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