eToro Group (NASDAQ:ETOR) Given New $31.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group lowered its price target on eToro to $31 (from $35) and kept a "neutral" rating, implying only about a 2.52% upside from the current share price.
• Analyst coverage is mixed: MarketBeat shows a consensus of "Moderate Buy" with an average target of $57.94 (ten Buys vs. seven Holds), reflecting a wide range of broker targets from ~$31 to $60+.
• eToro trades around $30.24 with a market cap of ~$2.48B; it recently beat quarterly EPS estimates ($0.71 vs. $0.60) on $3.87B revenue but has a low net margin (1.56%) despite a strong ROE (21.35%).

eToro Group (NASDAQ:ETOR - Get Free Report) had its price objective reduced by research analysts at The Goldman Sachs Group from $35.00 to $31.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 2.52% from the company's current price.

Several other analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $52.00 target price on shares of eToro Group in a report on Monday, February 23rd. Mizuho cut their price objective on shares of eToro Group from $65.00 to $60.00 and set an "outperform" rating for the company in a research report on Friday, January 16th. Needham & Company LLC restated a "buy" rating and set a $58.00 price objective on shares of eToro Group in a report on Wednesday, February 18th. Bank of America reaffirmed a "neutral" rating on shares of eToro Group in a research report on Wednesday, February 18th. Finally, Zacks Research cut eToro Group from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.94.

eToro Group Stock Performance

ETOR stock traded up $0.54 during midday trading on Thursday, reaching $30.24. 253,945 shares of the company were exchanged, compared to its average volume of 1,395,109. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.89 and a quick ratio of 4.89. The business has a 50-day moving average price of $30.14 and a two-hundred day moving average price of $35.86. eToro Group has a one year low of $24.74 and a one year high of $79.96. The firm has a market capitalization of $2.48 billion and a price-to-earnings ratio of 13.63.

eToro Group (NASDAQ:ETOR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.11. The company had revenue of $3.87 billion for the quarter. eToro Group had a net margin of 1.56% and a return on equity of 21.35%.

Institutional Trading of eToro Group

A number of institutional investors have recently bought and sold shares of ETOR. American Century Companies Inc. acquired a new stake in shares of eToro Group in the second quarter valued at approximately $6,665,000. Federated Hermes Inc. acquired a new stake in eToro Group during the second quarter worth approximately $11,320,000. Norges Bank acquired a new stake in eToro Group during the second quarter worth approximately $16,315,000. Farther Finance Advisors LLC bought a new position in eToro Group during the 3rd quarter worth $1,996,000. Finally, Ibex Investors LLC bought a new position in eToro Group during the 3rd quarter worth $1,663,000.

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.

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