eToro Group (NASDAQ:ETOR) Coverage Initiated at Compass Point

Key Points

• Compass Point has initiated coverage of eToro Group (NASDAQ:ETOR) with a buy rating and a price target of $66.00, indicating a potential upside of 70.81% from its current price.
• Other analysts have varying opinions, with Citigroup reducing its target from $62.00 to $57.00 while maintaining a neutral rating, and Goldman Sachs lowering its target from $69.00 to $60.00 with a buy rating.
• eToro Group reported a quarterly revenue increase of 13.3%, with earnings per share of $0.56, surpassing analyst expectations of $0.51.

Equities research analysts at Compass Point started coverage on shares of eToro Group (NASDAQ:ETOR - Get Free Report) in a research note issued to investors on Monday,Benzinga reports. The firm set a "buy" rating and a $66.00 price target on the stock. Compass Point's target price points to a potential upside of 70.81% from the company's current price.

A number of other research analysts have also recently issued reports on ETOR. Citigroup cut their target price on shares of eToro Group from $62.00 to $57.00 and set a "neutral" rating for the company in a research note on Friday, September 5th. Keefe, Bruyette & Woods dropped their price objective on shares of eToro Group from $65.00 to $60.00 and set a "market perform" rating for the company in a research report on Wednesday, August 13th. Mizuho dropped their price objective on shares of eToro Group from $80.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, October 1st. The Goldman Sachs Group dropped their price objective on shares of eToro Group from $69.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, October 3rd. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $78.00 price objective on shares of eToro Group in a research report on Thursday, September 11th. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $71.12.

eToro Group Trading Down 2.2%

NASDAQ:ETOR opened at $38.64 on Monday. eToro Group has a 1 year low of $38.25 and a 1 year high of $79.96. The firm has a 50 day moving average price of $45.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.76 and a quick ratio of 3.76.

eToro Group (NASDAQ:ETOR - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. The firm had revenue of $209.63 million during the quarter, compared to the consensus estimate of $194.60 million. The company's quarterly revenue was up 13.3% compared to the same quarter last year.

Institutional Trading of eToro Group

Institutional investors have recently bought and sold shares of the business. Balyasny Asset Management L.P. acquired a new position in shares of eToro Group in the 2nd quarter valued at $43,397,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of eToro Group in the 2nd quarter valued at $33,812,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of eToro Group in the 2nd quarter valued at $28,048,000. Nikko Asset Management Americas Inc. acquired a new position in shares of eToro Group in the 2nd quarter valued at $27,875,000. Finally, Marshall Wace LLP acquired a new position in shares of eToro Group in the 2nd quarter valued at $17,360,000.

About eToro Group

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