eToro Group (NASDAQ:ETOR) Reaches New 12-Month Low - Should You Sell?

Key Points

• eToro Group Ltd. shares have reached a new 52-week low, trading as low as $43.50 before closing at $45.00 amid a trading volume of 128,912 shares.
• Despite the stock's decline, analysts maintain a generally positive outlook, with several firms issuing buy ratings and target prices ranging from $68.00 to $85.00.
• eToro reported earnings per share of $0.56 for the last quarter, surpassing estimates, and a year-over-year revenue growth of 13.3% to $209.63 million.

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report)'s share price hit a new 52-week low on Tuesday . The stock traded as low as $43.50 and last traded at $45.00, with a volume of 128912 shares trading hands. The stock had previously closed at $44.40.

Wall Street Analyst Weigh In

ETOR has been the topic of a number of analyst reports. Bank of America initiated coverage on eToro Group in a research report on Monday, June 9th. They issued a "neutral" rating and a $71.00 price target on the stock. Citigroup cut their price objective on eToro Group from $62.00 to $57.00 and set a "neutral" rating for the company in a research report on Friday. Needham & Company LLC cut their price objective on eToro Group from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Cantor Fitzgerald began coverage on shares of eToro Group in a research note on Monday, June 9th. They set an "overweight" rating and a $84.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of eToro Group from $78.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $72.88.

eToro Group Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 3.76 and a quick ratio of 3.76. The stock's 50-day simple moving average is $54.63.

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 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 company's revenue for the quarter was up 13.3% on a year-over-year basis.

Institutional Investors Weigh In On eToro Group

A number of institutional investors have recently made changes to their positions in ETOR. Balyasny Asset Management L.P. acquired a new stake in shares of eToro Group during the second quarter worth $43,397,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of eToro Group during the second quarter worth $33,812,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of eToro Group during the second quarter worth $28,048,000. Nikko Asset Management Americas Inc. bought a new position in shares of eToro Group during the second quarter worth $27,875,000. Finally, Marshall Wace LLP bought a new position in shares of eToro Group during the second quarter worth $17,360,000.

About eToro Group

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.