eToro Group (NASDAQ:ETOR) Reaches New 1-Year Low - Time to Sell?

Key Points

• eToro Group shares reached a new 52-week low of $42.33, closing at $42.43 with a trading volume of 556,198 shares.
• Analysts have set a consensus target price of $72.88 for eToro Group, with nine analysts rating it a buy and eight rating it a hold.
• The company reported quarterly earnings of $0.56 EPS, surpassing expectations, along with a revenue of $209.63 million, which is a 13.3% increase compared to the same quarter last year.

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $42.33 and last traded at $42.43, with a volume of 556198 shares. The stock had previously closed at $43.76.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETOR. JMP Securities began coverage on shares of eToro Group in a report on Monday, June 9th. They set a "market outperform" rating and a $85.00 price target for the company. The Goldman Sachs Group lowered their price target on shares of eToro Group from $78.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. Jefferies Financial Group began coverage on shares of eToro Group in a research report on Monday, June 9th. They issued a "buy" rating and a $80.00 target price on the stock. Mizuho began coverage on shares of eToro Group in a research report on Monday, June 9th. They issued an "outperform" rating and a $80.00 target price on the stock. Finally, Bank of America began coverage on shares of eToro Group in a research report on Monday, June 9th. They issued a "neutral" rating and a $71.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, eToro Group has an average rating of "Moderate Buy" and a consensus target price of $72.88.

eToro Group Stock Performance

The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $50.60.

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

Institutional Trading of eToro Group

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new stake in eToro Group during the second quarter valued at $67,000. Newbridge Financial Services Group Inc. bought a new stake in eToro Group during the second quarter valued at $82,000. Caitong International Asset Management Co. Ltd bought a new stake in eToro Group during the second quarter valued at $120,000. SBI Securities Co. Ltd. bought a new stake in eToro Group during the second quarter valued at $128,000. Finally, TD Waterhouse Canada Inc. acquired a new position in eToro Group during the 2nd quarter valued at about $160,000.

About eToro Group

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