Citigroup Issues Pessimistic Forecast for eToro Group (NASDAQ:ETOR) Stock Price

Key Points

• Citigroup reduced its price target for eToro Group from $72.00 to $62.00 while maintaining a "neutral" rating, indicating potential upside from the current stock price.
• eToro Group's stock is currently trading at approximately $48.33, significantly below its twelve-month high of $79.96, with a consensus target price among analysts of $73.94.
• The company recently reported quarterly earnings of $0.56 per share, surpassing estimates, with revenue of $209.63 million, reflecting a 13.3% year-over-year increase.

eToro Group (NASDAQ:ETOR - Free Report) had its price objective trimmed by Citigroup from $72.00 to $62.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

ETOR has been the topic of several other reports. Citizens Jmp assumed coverage on shares of eToro Group in a report on Monday, June 9th. They issued an "outperform" rating and a $85.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on eToro Group in a report on Monday, June 9th. They issued a "hold" rating and a $70.00 price objective on the stock. TD Cowen initiated coverage on eToro Group in a research note on Monday, June 9th. They set a "buy" rating and a $80.00 target price for the company. Redburn Atlantic initiated coverage on eToro Group in a research note on Monday, June 9th. They issued a "neutral" rating and a $68.00 price target on the stock. Finally, Bank of America assumed coverage on eToro Group in a report on Monday, June 9th. They set a "neutral" rating and a $71.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, eToro Group currently has an average rating of "Hold" and a consensus target price of $73.19.

eToro Group Stock Performance

eToro Group stock traded down $0.51 during trading on Wednesday, reaching $47.63. 530,326 shares of the company were exchanged, compared to its average volume of 1,366,915. The firm's 50 day moving average price is $60.18. 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 has a 52-week low of $46.03 and a 52-week high of $79.96.

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

Institutional Trading of eToro Group

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc acquired a new position in shares of eToro Group in the second quarter valued at approximately $67,000. Caitong International Asset Management Co. Ltd purchased a new position in eToro Group in the 2nd quarter valued at approximately $120,000. SBI Securities Co. Ltd. acquired a new position in shares of eToro Group in the second quarter worth $128,000. TD Waterhouse Canada Inc. acquired a new position in shares of eToro Group in the second quarter worth $160,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of eToro Group during the second quarter worth $184,000.

About eToro Group

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