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

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 objective lowered by research analysts at The Goldman Sachs Group from $78.00 to $68.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 42.77% from the stock's current price.

ETOR has been the subject of a number of other reports. Mizuho started coverage on shares of eToro Group in a research report on Monday, June 9th. They set an "outperform" rating and a $80.00 price target for the company. JMP Securities started coverage on eToro Group in a research note on Monday, June 9th. They set a "market outperform" rating and a $85.00 price objective for the company. Wall Street Zen upgraded eToro Group to a "hold" rating in a research note on Tuesday, May 27th. Bank of America assumed coverage on eToro Group in a research report on Monday, June 9th. They set a "neutral" rating and a $71.00 price target for the company. Finally, Redburn Atlantic initiated coverage on eToro Group in a report on Monday, June 9th. They set a "neutral" rating and a $68.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, eToro Group has an average rating of "Hold" and an average price target of $73.19.

eToro Group Stock Down 1.1%

ETOR stock traded down $0.51 during mid-day trading on Wednesday, reaching $47.63. 530,326 shares of the company traded hands, compared to its average volume of 1,366,915. The company has a fifty day moving average price of $60.18. eToro Group has a 52-week low of $46.03 and a 52-week 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.

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% compared to the same quarter last year.

Institutional Investors Weigh In On eToro Group

Institutional investors have recently bought and sold shares of the stock. PFG Investments LLC bought a new stake in eToro Group in the second quarter valued at approximately $278,000. Hennessy Advisors Inc. bought a new stake in eToro Group during the 2nd quarter valued at $999,000. Meitav Investment House Ltd. purchased a new stake in eToro Group during the 2nd quarter valued at $366,000. Guild Investment Management Inc. bought a new stake in eToro Group in the 2nd quarter worth $1,468,000. Finally, IFP Advisors Inc purchased a new position in shares of eToro Group in the second quarter valued at about $67,000.

eToro Group Company Profile

Our mission is to open the global markets, connect our users to leading investors and give them the tools they need to grow their knowledge and wealth. The global financial markets are widely recognized as one of the greatest paths to wealth creation, although they have historically been opaque and inaccessible to many.