eToro Group (NASDAQ:ETOR) Price Target Lowered to $60.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs has lowered the price target for eToro Group from $69.00 to $60.00 while maintaining a "buy" rating, suggesting a potential upside of 45.56% from the previous close.
• Other analysts have also adjusted their targets, with shares ranging from $58.00 to $85.00, indicating a general sentiment of caution regarding the stock's performance.
• eToro Group reported an earnings per share (EPS) of $0.56 for the last quarter, exceeding estimates, with a year-over-year revenue increase of 13.3% to $209.63 million.

eToro Group (NASDAQ:ETOR - Get Free Report) had its price target lowered by equities research analysts at The Goldman Sachs Group from $69.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 45.56% from the company's previous close.

Several other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods decreased their target price on shares of eToro Group from $65.00 to $60.00 and set a "market perform" rating for the company in a research note on Wednesday, August 13th. JMP Securities assumed coverage on shares of eToro Group in a research note on Monday, June 9th. They issued a "market outperform" rating and a $85.00 target price for the company. Zacks Research upgraded shares of eToro Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. UBS Group decreased their target price on shares of eToro Group from $70.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Finally, Susquehanna decreased their target price on shares of eToro Group from $70.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, July 18th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.44.

eToro Group Stock Performance

NASDAQ ETOR traded down $0.25 on Friday, hitting $41.22. 376,153 shares of the company's stock traded hands, compared to its average volume of 1,188,699. 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 stock's 50-day moving average price is $48.13. eToro Group has a 1-year low of $39.02 and a 1-year high of $79.96.

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

Institutional Investors Weigh In On eToro Group

A number of large investors have recently modified their holdings of the business. Balyasny Asset Management L.P. purchased a new stake in shares of eToro Group during the second quarter worth $43,397,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of eToro Group during the second quarter worth $33,812,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of eToro Group during the second quarter worth $28,048,000. Nikko Asset Management Americas Inc. purchased a new stake in shares of eToro Group during the second quarter worth $27,875,000. Finally, Marshall Wace LLP purchased a new stake in shares of eToro Group during the second quarter worth $17,360,000.

About eToro Group

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