eToro Group (NASDAQ:ETOR) Sets New 52-Week Low on Analyst Downgrade

Key Points

• eToro Group's stock reached a new 52-week low at $39.90 following a downgrade by Mizuho, which reduced its price target from $80.00 to $65.00.
• Other analysts have also lowered their ratings and price targets for eToro Group, with Citigroup reducing its target to $57.00 and Keefe, Bruyette & Woods to $60.00.
• The company reported a 13.3% increase in quarterly revenue year-over-year, reaching $209.63 million, surpassing analyst expectations while earnings per share (EPS) were $0.56, exceeding the consensus estimate.

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report)'s share price hit a new 52-week low on Wednesday after Mizuho lowered their price target on the stock from $80.00 to $65.00. Mizuho currently has an outperform rating on the stock. eToro Group traded as low as $39.90 and last traded at $40.13, with a volume of 477695 shares trading hands. The stock had previously closed at $41.27.

Several other equities research analysts have also recently issued reports on ETOR. Keefe, Bruyette & Woods lowered their price objective on eToro Group from $65.00 to $60.00 and set a "market perform" rating on the stock in a report on Wednesday, August 13th. Zacks Research upgraded eToro Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Citigroup reduced their price objective on eToro Group from $62.00 to $57.00 and set a "neutral" rating for the company in a research note on Friday, September 5th. Needham & Company LLC lowered their target price on shares of eToro Group from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Finally, Cantor Fitzgerald assumed coverage on shares of eToro Group in a report on Monday, June 9th. They set an "overweight" rating and a $84.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.94.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. acquired a new stake in eToro Group during the second quarter worth about $43,397,000. Adage Capital Partners GP L.L.C. acquired a new position in eToro Group in the 2nd quarter valued at about $33,812,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of eToro Group in the 2nd quarter valued at approximately $28,048,000. Nikko Asset Management Americas Inc. acquired a new stake in shares of eToro Group during the 2nd quarter worth approximately $27,875,000. Finally, Marshall Wace LLP purchased a new stake in shares of eToro Group during the 2nd quarter valued at approximately $17,360,000.

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 business's fifty day moving average is $49.04.

eToro Group (NASDAQ:ETOR - Get Free Report) last posted its 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 business had revenue of $209.63 million for the quarter, compared to analyst estimates of $194.60 million. eToro Group's revenue for the quarter was up 13.3% compared to the same quarter last year.

eToro Group Company Profile

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