eToro Group (NASDAQ:ETOR) Hits New 52-Week Low - Should You Sell?

Key Points

• eToro Group shares reached a new 52-week low at $43.25 on Wednesday, down from a previous close of $45.41, with a trading volume of 750,990 shares.
• Despite the recent decline, several analysts remain positive, with Mizuho and TD Cowen setting price targets of $80, indicating potential for recovery.
• In its latest quarterly earnings report, eToro Group reported a 13.3% increase in revenue year-over-year, exceeding analysts' estimates with earnings of $0.56 per share.

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report)'s share price hit a new 52-week low on Wednesday . The company traded as low as $43.25 and last traded at $43.30, with a volume of 750990 shares changing hands. The stock had previously closed at $45.41.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Mizuho started coverage on eToro Group in a report on Monday, June 9th. They set an "outperform" rating and a $80.00 price objective on the stock. Bank of America assumed coverage on eToro Group in a research note on Monday, June 9th. They set a "neutral" rating and a $71.00 price target on the stock. TD Cowen started coverage on eToro Group in a report on Monday, June 9th. They issued a "buy" rating and a $80.00 price target on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $78.00 price target on shares of eToro Group in a research note on Monday, August 18th. Finally, Redburn Atlantic initiated coverage on shares of eToro Group in a research note on Monday, June 9th. They issued a "neutral" rating and a $68.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $72.88.

eToro Group Stock Down 6.1%

The stock has a fifty day simple moving average of $53.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.76 and a current ratio of 3.76.

eToro Group (NASDAQ:ETOR - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.56 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 business's quarterly revenue was up 13.3% on a year-over-year basis.

Hedge Funds Weigh In On eToro Group

Several institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. acquired a new stake in eToro Group during the 2nd quarter worth approximately $28,048,000. Caitong International Asset Management Co. Ltd acquired a new position in eToro Group in the 2nd quarter worth $120,000. Phoenix Financial Ltd. bought a new position in eToro Group during the 2nd quarter worth about $248,000. ARK Investment Management LLC acquired a new stake in shares of eToro Group in the 2nd quarter valued at about $16,516,000. Finally, International Assets Investment Management LLC bought a new stake in shares of eToro Group in the second quarter valued at about $514,000.

eToro Group Company Profile

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