eToro Group (NASDAQ:ETOR) Receives "Buy" Rating from Canaccord Genuity Group

Key Points

• eToro Group received a "buy" rating from Canaccord Genuity Group with a price target of $78.00, indicating a potential upside of 82.97% from its current price.
• Goldman Sachs recently lowered their price target for eToro from $78.00 to $68.00 while maintaining a "buy" rating, amidst various ratings and targets being issued by other analysts.
• eToro reported $0.56 earnings per share for its latest quarter, exceeding analysts' expectations and marking a 13.3% year-over-year revenue increase to $209.63 million.

eToro Group (NASDAQ:ETOR - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Canaccord Genuity Group in a research report issued on Thursday,Benzinga reports. They currently have a $78.00 price target on the stock. Canaccord Genuity Group's target price points to a potential upside of 81.73% from the company's current price.

A number of other equities research analysts also recently weighed in on the stock. Cantor Fitzgerald began coverage on shares of eToro Group in a research report on Monday, June 9th. They issued an "overweight" rating and a $84.00 price target for the company. Citizens Jmp began coverage on shares of eToro Group in a research report on Monday, June 9th. They issued an "outperform" rating and a $85.00 price target for the company. The Goldman Sachs Group dropped 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 report on Wednesday, August 13th. Susquehanna dropped their price target on shares of eToro Group from $70.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Finally, 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 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, eToro Group presently has an average rating of "Moderate Buy" and an average price target of $72.88.

eToro Group Trading Down 1.0%

Shares of NASDAQ:ETOR traded down $0.43 during trading on Thursday, reaching $42.92. 268,681 shares of the stock were exchanged, compared to its average volume of 1,252,647. eToro Group has a 12 month low of $42.42 and a 12 month high of $79.96. The company's 50-day moving average is $52.32. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.09.

eToro Group (NASDAQ:ETOR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 was up 13.3% compared to the same quarter last year.

Institutional Trading of eToro Group

A number of institutional investors have recently bought and sold shares of ETOR. 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. bought a new stake in eToro Group during the second quarter valued at $160,000.

About eToro Group

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