eToro Group (NASDAQ:ETOR) Price Target Raised to $36.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs raised eToro Group’s price target to $36 from $32 while maintaining a “neutral” rating, implying roughly 16.8% upside from the stock’s $30.82 price.
• Analyst sentiment remains broadly positive, with 11 “buy” ratings, six “hold” ratings and one “sell” rating; MarketBeat reports a consensus “moderate buy” rating and a $50.12 average price target.
• eToro beat quarterly EPS estimates, reporting $0.68 versus the $0.61 consensus, but revenue fell 23.9% year over year to $1.59 billion. Director Shalev Eddy also sold 100,000 shares at an average price of $31.20.

eToro Group (NASDAQ:ETOR - Get Free Report) had its price target increased by research analysts at The Goldman Sachs Group from $32.00 to $36.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target would suggest a potential upside of 16.82% from the company's current price.

A number of other equities analysts have also recently weighed in on ETOR. UBS Group decreased their price objective 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. Needham & Company LLC lowered their price objective on eToro Group from $66.00 to $53.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Mizuho cut their target price on eToro Group from $60.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 12th. TD Cowen decreased their price target on shares of eToro Group from $55.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of eToro Group from $45.00 to $35.00 and set a "market perform" rating for the company in a research note on Wednesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.12.

eToro Group Stock Down 0.2%

eToro Group stock traded down $0.07 during midday trading on Wednesday, hitting $30.82. 275,461 shares of the company were exchanged, compared to its average volume of 1,189,409. The company has a market cap of $2.55 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.64. eToro Group has a fifty-two week low of $24.74 and a fifty-two week high of $46.28. The company's fifty day moving average price is $34.64 and its 200-day moving average price is $35.15. 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 posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 earnings per share (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 company had revenue of $1.59 billion for the quarter. During the same quarter in the prior year, the business earned $0.56 EPS. The company's revenue for the quarter was down 23.9% on a year-over-year basis. On average, research analysts predict that eToro Group will post 2.56 EPS for the current fiscal year.

Insider Transactions at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $31.20, for a total transaction of $3,120,000.00. Following the transaction, the director directly owned 196,779 shares in the company, valued at $6,139,504.80. This trade represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Trading of eToro Group

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in shares of eToro Group by 12,484.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,929,333 shares of the company's stock worth $76,151,000 after purchasing an additional 1,914,002 shares during the period. Invesco Ltd. boosted its position in eToro Group by 14,120.4% during the 4th quarter. Invesco Ltd. now owns 974,243 shares of the company's stock worth $34,225,000 after acquiring an additional 967,392 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of eToro Group by 61.9% in 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 purchasing an additional 760,654 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of eToro Group by 67.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company's stock valued at $59,571,000 after purchasing an additional 683,008 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in eToro Group in the second quarter worth about $43,397,000.

About eToro Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.