eToro Group (NASDAQ:ETOR) Hits New 12-Month Low - Time to Sell?

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 share price reached a new 52-week low on Tuesday . The stock traded as low as $45.75 and last traded at $45.80, with a volume of 348466 shares trading hands. The stock had previously closed at $47.63.

Analyst Ratings Changes

ETOR has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price target 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. UBS Group decreased their price target on shares of eToro Group from $70.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Redburn Atlantic initiated coverage on shares of eToro Group in a research note on Monday, June 9th. They set a "neutral" rating and a $68.00 price target for the company. JMP Securities initiated coverage on shares of eToro Group in a research note on Monday, June 9th. They set a "market outperform" rating and a $85.00 price target for the company. Finally, Zacks Research raised shares of eToro Group to a "strong sell" rating in a research note on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $73.19.

eToro Group Stock Up 4.2%

The stock has a fifty day simple moving average of $58.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.76 and a current ratio of 3.76.

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

Institutional Investors Weigh In On eToro Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. 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. acquired a new stake in shares of eToro Group during the second quarter worth $27,875,000. Finally, Marshall Wace LLP acquired a new stake 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.