eToro Group (NASDAQ:ETOR) Hits New 12-Month Low - Here's Why

Key Points

• eToro Group's share price fell to a new 52-week low of $45.75 during mid-day trading, down from a previous close of $47.63.
• The company reported earnings per share of $0.56 for the recent quarter, which surpassed analysts' expectations of $0.51, alongside a revenue growth of 13.3% year-over-year.
• Recent analyst ratings vary, with nine recommending a Buy, seven a Hold, and one a Sell, illustrating a mixed outlook for the stock.

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $45.75 and last traded at $45.80, with a volume of 348466 shares changing hands. The stock had previously closed at $47.63.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ETOR shares. JMP Securities started coverage on shares of eToro Group in a report on Monday, June 9th. They issued a "market outperform" rating and a $85.00 price target for the company. Redburn Atlantic started coverage on shares of eToro Group in a report on Monday, June 9th. They issued a "neutral" rating and a $68.00 price target for the company. Bank of America started coverage on shares of eToro Group in a report on Monday, June 9th. They issued a "neutral" rating and a $71.00 price target for the company. Wall Street Zen raised shares of eToro Group to a "hold" rating in a report on Tuesday, May 27th. Finally, The Goldman Sachs Group decreased their price objective on shares of eToro Group from $78.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $73.19.

eToro Group Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.76 and a current ratio of 3.76. The business has a 50 day moving average price of $58.11.

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

Hedge Funds Weigh In On eToro Group

A number of institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new position in shares of eToro Group during the second quarter worth approximately $82,000. Marex Group plc purchased a new position in shares of eToro Group during the second quarter worth approximately $3,500,000. Nikko Asset Management Americas Inc. purchased a new position in shares of eToro Group during the second quarter worth approximately $27,875,000. Ion Asset Management Ltd. purchased a new position in shares of eToro Group during the second quarter worth approximately $13,318,000. Finally, Militia Capital Partners LP purchased a new position in eToro Group during the second quarter valued at approximately $926,000.

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.