eToro Group (NASDAQ:ETOR) Price Target Lowered to $76.00 at Needham & Company LLC

Key Points

• eToro Group's price target was lowered from $80.00 to $76.00 by Needham & Company LLC, although the firm still maintains a "buy" rating on the stock.
• The stock price has seen a significant decline of 8.2%, with shares opening at $50.74 and hitting a yearly low of $50.00.
• Despite the recent price target reductions, eToro Group has a consensus rating of "Moderate Buy" with a target price of $75.06 from a group of analysts.

eToro Group (NASDAQ:ETOR - Get Free Report) had its price target decreased by analysts at Needham & Company LLC from $80.00 to $76.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 49.78% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Mizuho initiated coverage on eToro Group in a report on Monday, June 9th. They issued an "outperform" rating and a $80.00 target price on the stock. JMP Securities initiated coverage on eToro Group in a report on Monday, June 9th. They issued a "market outperform" rating and a $85.00 target price on the stock. The Goldman Sachs Group initiated coverage on eToro Group in a report on Monday, June 9th. They issued a "buy" rating and a $76.00 target price on the stock. Susquehanna decreased their target price on eToro Group from $70.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Finally, Canaccord Genuity Group initiated coverage on eToro Group in a research report on Monday, June 9th. They issued a "buy" rating and a $78.00 target price for the company. Eight research 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 has a consensus rating of "Moderate Buy" and a consensus target price of $75.06.

eToro Group Trading Down 8.2%

Shares of ETOR stock opened at $50.74 on Wednesday. eToro Group has a 1 year low of $50.00 and a 1 year high of $79.96. The firm's fifty day moving average price is $61.24. 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 (NASDAQ:ETOR - Get Free Report) last issued its quarterly 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. eToro Group's quarterly revenue was up 13.3% on a year-over-year basis.

Institutional Trading of eToro Group

A number of institutional investors have recently bought and sold shares of the company. PFG Investments LLC bought a new position in eToro Group during the second quarter valued at about $278,000. Hennessy Advisors Inc. bought a new position in eToro Group during the second quarter valued at about $999,000. Meitav Investment House Ltd. bought a new position in eToro Group during the second quarter valued at about $366,000. Guild Investment Management Inc. bought a new position in eToro Group during the second quarter valued at about $1,468,000. Finally, IFP Advisors Inc bought a new position in eToro Group during the second quarter valued at about $67,000.

About eToro Group

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