eToro Group (NASDAQ:ETOR) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded eToro Group (NASDAQ: ETOR) from “hold” to “buy,” adding to a broadly positive analyst backdrop for the stock. MarketBeat says the shares currently carry a consensus rating of “Moderate Buy.”
• Several other firms have recently raised their price targets, including Susquehanna, TD Cowen, Jefferies, Needham, and Canaccord Genuity. The consensus target price now stands at $55.80.
• eToro recently reported better-than-expected quarterly earnings of $0.91 per share versus $0.70 estimated, though revenue fell 35% year over year. The stock last traded at $39.15, below the analyst consensus target range.

eToro Group (NASDAQ:ETOR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Sunday.

Other equities analysts have also issued research reports about the stock. Susquehanna upped their price target on shares of eToro Group from $55.00 to $57.00 and gave the stock a "positive" rating in a research report on Wednesday, May 13th. TD Cowen lifted their price objective on shares of eToro Group from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Jefferies Financial Group boosted their target price on shares of eToro Group from $48.00 to $51.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Needham & Company LLC upped their target price on shares of eToro Group from $58.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $65.00 price target on shares of eToro Group in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.80.

eToro Group Stock Performance

NASDAQ:ETOR traded down $0.65 during midday trading on Friday, reaching $39.15. 641,601 shares of the company traded hands, compared to its average volume of 680,813. eToro Group has a twelve month low of $24.74 and a twelve month high of $65.95. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 0.89 and a beta of 1.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.92. The company has a fifty day moving average price of $39.42 and a 200 day moving average price of $34.53.

eToro Group (NASDAQ:ETOR - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.21. The firm had revenue of $2.44 billion for the quarter. eToro Group had a return on equity of 19.79% and a net margin of 1.90%.eToro Group's quarterly revenue was down 35.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. On average, analysts expect that eToro Group will post 2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hedva Ber sold 55,160 shares of eToro Group stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the sale, the chief executive officer directly owned 20,660 shares in the company, valued at $865,654. The trade was a 72.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shalev Eddy sold 100,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $41.26, for a total transaction of $4,126,000.00. Following the completion of the sale, the director directly owned 296,779 shares of the company's stock, valued at $12,245,101.54. The trade was a 25.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ETOR. Russell Investments Group Ltd. acquired a new position in shares of eToro Group during the second quarter valued at approximately $669,000. Invesco Ltd. bought a new position in eToro Group during the 2nd quarter valued at $15,392,000. Nebula Research & Development LLC acquired a new position in shares of eToro Group during the 2nd quarter valued at $272,000. Squarepoint Ops LLC bought a new stake in shares of eToro Group in the 2nd quarter worth $1,270,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of eToro Group in the second quarter valued at $1,333,000.

eToro Group Company Profile

eToro Group Ltd. NASDAQ: ETOR is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.

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