eToro Group (NASDAQ:ETOR) Hits New 52-Week Low - What's Next?

Key Points

• eToro Group Ltd. reached a new 52-week low of $52.25 this week, closing at $53.03 with a trading volume of 169,028 shares.
• Despite its current low stock price, Wall Street analysts have a consensus rating of "Moderate Buy" for eToro, with an average target price of $75.63.
• In its latest earnings report, eToro reported a 13.3% increase in quarterly revenue with an EPS of $0.56, exceeding analysts' expectations of $0.51.

Shares of eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $52.25 and last traded at $53.03, with a volume of 169028 shares trading hands. The stock had previously closed at $55.30.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ETOR shares. Bank of America started coverage on eToro Group in a report on Monday, June 9th. They set a "neutral" rating and a $71.00 price target on the stock. Citigroup lowered their price target on eToro Group from $72.00 to $62.00 and set a "neutral" rating on the stock in a report on Wednesday. Redburn Atlantic assumed coverage on eToro Group in a report on Monday, June 9th. They set a "neutral" rating and a $68.00 price target on the stock. Citizens Jmp assumed coverage on eToro Group in a research report on Monday, June 9th. They issued an "outperform" rating and a $85.00 price objective for the company. Finally, Cantor Fitzgerald assumed coverage on eToro Group in a research report on Monday, June 9th. They issued an "overweight" rating and a $84.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $73.19.

eToro Group Price Performance

The stock has a 50-day simple moving average of $60.60. 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 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 firm had revenue of $209.63 million during the quarter, compared to the consensus estimate of $194.60 million. The firm's quarterly revenue was up 13.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. PFG Investments LLC acquired a new position in eToro Group during the second quarter worth $278,000. Hennessy Advisors Inc. acquired a new position in eToro Group during the second quarter worth $999,000. Meitav Investment House Ltd. acquired a new position in eToro Group during the second quarter worth $366,000. Guild Investment Management Inc. acquired a new position in eToro Group during the second quarter worth $1,468,000. Finally, IFP Advisors Inc acquired a new position in eToro Group during the second quarter worth $67,000.

eToro Group Company Profile

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.