eToro Group (NASDAQ:ETOR) Rating Increased to Hold at Zacks Research

Key Points

• eToro Group has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a more optimistic outlook on the stock.
• The average price target for eToro Group shares is now $72.88, with several analysts giving mixed ratings, including nine "buy" ratings and eight "hold" ratings.
• In its last quarterly report, eToro Group reported an EPS of $0.56, beating expectations, and a revenue increase of 13.3% year-over-year, reaching $209.63 million.

eToro Group (NASDAQ:ETOR - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on ETOR. TD Cowen started coverage on eToro Group in a research note on Monday, June 9th. They issued a "buy" rating and a $80.00 price objective for the company. UBS Group lowered their price target on eToro Group from $70.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Mizuho initiated coverage on eToro Group in a research note on Monday, June 9th. They issued an "outperform" rating and a $80.00 price target for the company. Susquehanna reduced their price objective on shares of eToro Group from $70.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of eToro Group from $65.00 to $60.00 and set a "market perform" rating for the company in a research report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $72.88.

eToro Group Stock Performance

NASDAQ ETOR opened at $42.63 on Tuesday. eToro Group has a 12 month low of $42.42 and a 12 month high of $79.96. The business's 50 day moving average price is $53.42. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.09.

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

Hedge Funds Weigh In On eToro Group

Institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. purchased a new position in shares of eToro Group in the 2nd quarter worth $43,397,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of eToro Group in the 2nd quarter worth $33,812,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of eToro Group in the 2nd quarter worth $28,048,000. Nikko Asset Management Americas Inc. purchased a new position in shares of eToro Group in the 2nd quarter worth $27,875,000. Finally, Marshall Wace LLP purchased a new position in shares of eToro Group in the 2nd quarter worth $17,360,000.

About eToro Group

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