eToro Group Ltd. (NASDAQ:ETOR) Stock Has Average Target Price of $46.33 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on eToro, with 10 buy, 6 hold and 1 sell rating among 17 analysts. The average 12-month price target is $46.33, well above the stock’s recent $24.32 price.
• Several firms recently reduced their price targets, including TD Cowen to $33, Citizens JMP to $75 and Canaccord Genuity to $47, while maintaining generally positive or neutral ratings.
• eToro reported quarterly EPS of $0.68, beating estimates of $0.61, on revenue of $1.59 billion; however, revenue declined 23.9% year over year. Director Shalev Eddy also sold 100,000 shares worth $3.12 million.

Shares of eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seventeen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $46.33.

Several research firms recently commented on ETOR. TD Cowen cut their target price on eToro Group from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Monday, October 12th. Citizens Jmp lowered their price target on eToro Group from $90.00 to $75.00 and set a "market outperform" rating on the stock in a research report on Friday, October 9th. Bank of America reiterated a "neutral" rating on shares of eToro Group in a research report on Monday, October 5th. Wall Street Zen lowered eToro Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Canaccord Genuity Group cut their price objective on eToro Group from $53.00 to $47.00 and set a "buy" rating for the company in a report on Monday.

Insider Buying and Selling at eToro Group

In other news, Director Shalev Eddy sold 100,000 shares of the company's stock in a transaction dated 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 sale, the director owned 196,779 shares of the company's stock, valued at approximately $6,139,504.80. This represents a 33.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On eToro Group

A number of hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in 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 valued at $59,716,000 after buying an additional 760,654 shares in the last quarter. Wellington Management Group LLP bought a new stake in eToro Group during the second quarter worth about $22,134,000. Bank of New York Mellon Corp bought a new stake in eToro Group during the first quarter worth about $6,048,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of eToro Group during the first quarter worth approximately $5,706,000. Finally, Saba Capital Management L.P. increased its holdings in shares of eToro Group by 156.2% during the first quarter. Saba Capital Management L.P. now owns 203,291 shares of the company's stock worth $6,105,000 after buying an additional 123,952 shares in the last quarter.

eToro Group Stock Down 0.3%

Shares of ETOR opened at $24.32 on Thursday. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $28.09 and a two-hundred day moving average price of $34.27. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 0.70 and a beta of 1.79. eToro Group has a 12 month low of $23.99 and a 12 month high of $44.21.

eToro Group (NASDAQ:ETOR - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. eToro Group had a return on equity of 20.26% and a net margin of 2.17%. The company had revenue of $1.59 billion for the quarter. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company's revenue for the quarter was down 23.9% on a year-over-year basis. Equities analysts predict that eToro Group will post 2.48 EPS for the current fiscal year.

About eToro Group

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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