eToro Group (NASDAQ:ETOR) Price Target Lowered to $68.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has lowered eToro Group's price target from $78.00 to $68.00, maintaining a "buy" rating which suggests a potential upside of 41.81% from the company's previous close.
• eToro Group's stock dropped 5.5% on Wednesday, closing at $47.95, with a trading volume of 1,252,696 shares.
• The company reported $0.56 EPS for the quarter, exceeding analysts' expectations of $0.51, with revenue also exceeding forecasts at $209.63 million.

eToro Group (NASDAQ:ETOR - Get Free Report) had its price target decreased by investment analysts at The Goldman Sachs Group from $78.00 to $68.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 41.81% from the company's previous close.

A number of other brokerages have also commented on ETOR. Keefe, Bruyette & Woods dropped their price target on eToro Group from $65.00 to $60.00 and set a "market perform" rating for the company in a research note on Wednesday. Needham & Company LLC reduced their price target on eToro Group from $80.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday. Susquehanna reduced their price objective on eToro Group from $70.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, July 18th. UBS Group initiated coverage on eToro Group in a report on Monday, June 9th. They issued a "neutral" rating and a $70.00 price objective for the company. Finally, Citizens Jmp initiated coverage on eToro Group in a report on Monday, June 9th. They issued an "outperform" rating and a $85.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, eToro Group presently has a consensus rating of "Moderate Buy" and an average target price of $74.56.

eToro Group Stock Down 5.5%

Shares of eToro Group stock traded down $2.79 on Wednesday, hitting $47.95. The stock had a trading volume of 1,252,696 shares, compared to its average volume of 1,346,929. 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 one year low of $47.37 and a one year high of $79.96. The firm has a 50-day moving average of $61.24.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new position in shares of eToro Group during the 2nd quarter valued at approximately $67,000. Caitong International Asset Management Co. Ltd bought a new position in eToro Group in the 2nd quarter valued at $120,000. SBI Securities Co. Ltd. bought a new position in eToro Group in the 2nd quarter valued at $128,000. TD Waterhouse Canada Inc. purchased a new stake in shares of eToro Group in the 2nd quarter worth $160,000. Finally, Phoenix Financial Ltd. purchased a new stake in shares of eToro Group in the 2nd quarter worth $248,000.

About eToro Group

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