UBS Group Cuts eToro Group (NASDAQ:ETOR) Price Target to $58.00

Key Points

• eToro Group's price target has been reduced by UBS Group from $70.00 to $58.00, indicating a potential upside of 23.06% from its last closing price.
• The company reported a quarterly earnings per share (EPS) of $0.56 which beat analysts' estimates, alongside a revenue of $209.63 million representing a 13.3% year-over-year increase.
• eToro Group has garnered a current average rating of "Moderate Buy" from analysts with a price target averaging $73.19.

eToro Group (NASDAQ:ETOR - Get Free Report) had its price objective decreased by research analysts at UBS Group from $70.00 to $58.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective would indicate a potential upside of 20.48% from the stock's previous close.

A number of other research firms also recently weighed in on ETOR. Cantor Fitzgerald started coverage on eToro Group in a report on Monday, June 9th. They set an "overweight" rating and a $84.00 target price for the company. Keefe, Bruyette & Woods dropped their target price on eToro Group from $65.00 to $60.00 and set a "market perform" rating for the company in a report on Wednesday. JMP Securities initiated coverage on eToro Group in a research report on Monday, June 9th. They issued a "market outperform" rating and a $85.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on eToro Group in a research report on Monday, June 9th. They issued a "hold" rating and a $70.00 price target on the stock. Finally, TD Cowen initiated coverage on eToro Group in a research report on Monday, June 9th. They issued a "buy" rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $73.19.

eToro Group Stock Up 1.2%

Shares of ETOR traded up $0.58 during midday trading on Thursday, reaching $48.14. 1,104,460 shares of the stock were exchanged, compared to its average volume of 962,666. eToro Group has a twelve month low of $46.03 and a twelve month high of $79.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.76 and a current ratio of 3.76. The firm has a 50 day moving average of $60.18.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ETOR. IFP Advisors Inc acquired a new stake in shares of eToro Group during the second quarter valued at about $67,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of eToro Group during the second quarter valued at about $120,000. SBI Securities Co. Ltd. acquired a new stake in shares of eToro Group during the second quarter valued at about $128,000. TD Waterhouse Canada Inc. acquired a new stake in shares of eToro Group during the second quarter valued at about $160,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of eToro Group during the second quarter valued at about $184,000.

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.