eToro Group Ltd. (NASDAQ:ETOR) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on eToro, with 11 buys, six holds and one sell among 18 brokerages. The average 12-month price target is $49.88, although several firms recently lowered their targets.
• eToro shares opened at $31.81, down 0.5%, with a market capitalization of approximately $2.64 billion. The stock has traded between $24.74 and $47.70 over the past year.
• The company exceeded quarterly earnings expectations, reporting $0.68 in adjusted earnings per share versus a $0.61 consensus estimate, but revenue fell 23.9% year over year to $1.59 billion. Separately, director Shalev Eddy sold 100,000 shares worth $3.12 million.

Shares of eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $49.8750.

Several analysts have recently commented on the company. The Goldman Sachs Group decreased their target price on eToro Group from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, August 25th. TD Cowen reduced their price objective on eToro Group from $55.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Weiss Ratings lowered eToro Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 25th. Wall Street Zen cut eToro Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Mizuho dropped their target price on eToro Group from $60.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, August 12th.

Insider Buying and Selling

In other eToro Group 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 value of $3,120,000.00. Following the transaction, the director owned 196,779 shares in the company, valued at approximately $6,139,504.80. This represents a 33.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of eToro Group

A number of institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its holdings 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 valued at $76,151,000 after buying an additional 1,914,002 shares during the last quarter. Wellington Management Group LLP bought a new position in eToro Group during the second quarter valued at approximately $22,134,000. Public Employees Retirement System of Ohio acquired a new stake in eToro Group in the second quarter valued at approximately $939,000. Segall Bryant & Hamill LLC acquired a new stake in eToro Group in the first quarter valued at approximately $2,775,000. Finally, Bank of America Corp DE grew its position in eToro Group by 7.5% in the first quarter. Bank of America Corp DE now owns 226,207 shares of the company's stock worth $6,793,000 after acquiring an additional 15,813 shares in the last quarter.

eToro Group Stock Down 0.5%

Shares of NASDAQ:ETOR opened at $31.81 on Wednesday. The firm has a 50 day simple moving average of $35.34 and a 200 day simple moving average of $35.05. eToro Group has a 52 week low of $24.74 and a 52 week high of $47.70. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.02. The company has a market cap of $2.64 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.86 and a beta of 1.65.

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. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The firm had revenue of $1.59 billion for the quarter. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company's revenue for the quarter was down 23.9% on a year-over-year basis. As a group, research analysts expect that eToro Group will post 2.65 earnings per share for the current year.

eToro Group Company Profile

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.

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