eToro Group (NASDAQ:ETOR) Price Target Cut to $60.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• eToro Group's price target has been lowered from $65.00 to $60.00 by analysts at Keefe, Bruyette & Woods, who maintain a "market perform" rating on the stock.
• Despite the price cut, there is still a potential upside of 18.25% based on the stock's previous close.
• The stock currently has a consensus rating of "Moderate Buy" with a consensus target price of $75.06.

eToro Group (NASDAQ:ETOR - Get Free Report) had its target price lowered by analysts at Keefe, Bruyette & Woods from $65.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 18.25% from the stock's previous close.

A number of other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on eToro Group in a research note on Monday, June 9th. They issued a "hold" rating and a $70.00 price objective on the stock. The Goldman Sachs Group assumed coverage on eToro Group in a research report on Monday, June 9th. They issued a "buy" rating and a $76.00 price objective on the stock. Needham & Company LLC assumed coverage on eToro Group in a research note on Monday, June 9th. They set a "buy" rating and a $80.00 price objective for the company. Bank of America began coverage on eToro Group in a research note on Monday, June 9th. They set a "neutral" rating and a $71.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on eToro Group in a research note on Monday, June 9th. They issued a "buy" rating and a $80.00 price target for the company. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, eToro Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.06.

eToro Group Price Performance

Shares of eToro Group stock opened at $50.74 on Wednesday. eToro Group has a 12 month low of $50.00 and a 12 month high of $79.96. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.09. The firm's fifty day moving average price is $61.24.

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, topping the consensus estimate of $0.51 by $0.05. The firm's quarterly revenue was up 13.3% compared to the same quarter last year.

Institutional Investors Weigh In On eToro Group

A number of hedge funds have recently made changes to their positions in ETOR. Sumitomo Mitsui Trust Group Inc. bought a new stake in eToro Group during the second quarter worth approximately $28,048,000. Caitong International Asset Management Co. Ltd purchased a new position in eToro Group during the 2nd quarter worth approximately $120,000. Phoenix Financial Ltd. acquired a new stake in shares of eToro Group during the 2nd quarter valued at $248,000. ARK Investment Management LLC acquired a new stake in shares of eToro Group during the 2nd quarter valued at $16,516,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of eToro Group in the 2nd quarter valued at $514,000.

About eToro Group

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