eToro Group (NASDAQ:ETOR) Price Target Cut to $48.00 by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered eToro Group’s price target from $53 to $48 while maintaining an “overweight” rating, implying approximately 104% upside from the stock’s $23.52 price.
• Analyst sentiment remains favorable overall, with a consensus “Moderate Buy” rating and an average price target of $46; however, several brokerages recently reduced their targets.
• eToro exceeded quarterly earnings expectations with $0.68 in EPS versus a $0.61 consensus estimate, though revenue fell 23.9% year over year to $1.59 billion.

eToro Group (NASDAQ:ETOR - Get Free Report) had its target price lowered by investment analysts at Cantor Fitzgerald from $53.00 to $48.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective indicates a potential upside of 104.08% from the stock's current price.

A number of other brokerages have also issued reports on ETOR. Keefe, Bruyette & Woods cut their target price 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. UBS Group lowered their price target on 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 dropped their price objective on eToro Group from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, October 16th. Citizens Jmp cut their price objective on eToro Group from $90.00 to $75.00 and set a "market outperform" rating on the stock in a report on Friday, October 9th. Finally, Needham & Company LLC cut their price objective on eToro Group from $55.00 to $54.00 and set a "buy" rating on the stock in a report on Wednesday, October 21st. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.00.

eToro Group Price Performance

Shares of ETOR opened at $23.52 on Tuesday. The firm has a 50-day simple moving average of $27.82 and a two-hundred day simple moving average of $32.92. The stock has a market cap of $1.95 billion, a PE ratio of 8.25, a P/E/G ratio of 0.68 and a beta of 1.79. eToro Group has a 1-year low of $23.27 and a 1-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 issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 EPS 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 business's revenue was down 23.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share. As a group, analysts forecast that eToro Group will post 2.48 EPS for the current year.

Insider Buying and Selling at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the company'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 transaction 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 represents a 33.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On eToro Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETOR. Nisa Investment Advisors LLC raised its stake in shares of eToro Group by 109.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,105 shares of the company's stock valued at $28,000 after acquiring an additional 578 shares in the last quarter. Tidal Investments LLC increased its holdings in eToro Group by 1.9% during the 2nd quarter. Tidal Investments LLC now owns 666,388 shares of the company's stock worth $26,302,000 after purchasing an additional 12,441 shares during the period. Whetstone Capital Advisors LLC increased its holdings in eToro Group by 36.8% during the 2nd quarter. Whetstone Capital Advisors LLC now owns 190,284 shares of the company's stock worth $7,511,000 after purchasing an additional 51,197 shares during the period. Wellington Management Group LLP purchased a new stake in eToro Group during the 2nd quarter worth about $22,134,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in eToro Group in the 2nd quarter valued at about $939,000.

eToro Group Company Profile

eToro Group Ltd. NASDAQ: ETOR operates a global, multi-asset investment and trading platform. Its services enable users to invest in stocks, exchange-traded funds, cryptocurrencies and other instruments, with product availability varying by jurisdiction and local regulations. In certain markets, eToro also offers contracts for difference and other leveraged products.

The company is known for combining online brokerage services with social-investing features. Users can view and discuss investment activity, follow other investors and use CopyTrader to automatically replicate the strategies of selected investors.

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