eToro Group (NASDAQ:ETOR) Earns Buy Rating from Canaccord Genuity Group

Key Points

• eToro Group was restated with a "buy" rating by Canaccord Genuity Group, holding a target price of $78.00, indicating a potential upside of 63.76% from its previous close.
• Other analysts, such as Jefferies Financial Group and Citigroup, have varying views, with Jefferies also rating it a "buy" at $80.00 and Citigroup giving a "neutral" rating with a lowered target of $62.00.
• In its latest quarterly earnings report, eToro Group saw a 13.3% revenue increase year-over-year, reporting $209.63 million in revenue and earnings per share of $0.56, surpassing analysts' estimates.

eToro Group (NASDAQ:ETOR - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $78.00 target price on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 67.35% from the company's current price.

Several other equities analysts have also weighed in on ETOR. Jefferies Financial Group initiated coverage on shares of eToro Group in a research report on Monday, June 9th. They set a "buy" rating and a $80.00 price objective for the company. Needham & Company LLC decreased their target price on shares of eToro Group from $80.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Citizens Jmp began coverage on shares of eToro Group in a report on Monday, June 9th. They issued an "outperform" rating and a $85.00 target price for the company. Bank of America began coverage on shares of eToro Group in a report on Monday, June 9th. They issued a "neutral" rating and a $71.00 target price for the company. Finally, The Goldman Sachs Group decreased their target price on shares of eToro Group from $78.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $73.19.

eToro Group Stock Performance

Shares of NASDAQ:ETOR traded up $1.87 during trading hours on Monday, hitting $46.61. 828,277 shares of the company's stock traded hands, compared to its average volume of 913,527. eToro Group has a 52 week low of $43.50 and a 52 week high of $79.96. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.09. The company's fifty day simple moving average is $58.11.

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

Institutional Trading of eToro Group

Several institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of eToro Group during the second quarter worth approximately $82,000. Marex Group plc acquired a new stake in shares of eToro Group during the second quarter worth approximately $3,500,000. Nikko Asset Management Americas Inc. acquired a new stake in shares of eToro Group during the second quarter worth approximately $27,875,000. Ion Asset Management Ltd. acquired a new stake in shares of eToro Group during the second quarter worth approximately $13,318,000. Finally, Militia Capital Partners LP acquired a new stake in shares of eToro Group during the second quarter worth approximately $926,000.

eToro Group Company Profile

Our mission is to open the global markets, connect our users to leading investors and give them the tools they need to grow their knowledge and wealth. The global financial markets are widely recognized as one of the greatest paths to wealth creation, although they have historically been opaque and inaccessible to many.