eToro Group (NASDAQ:ETOR) Reaches New 52-Week Low - Here's What Happened

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.

eToro Group Ltd. (NASDAQ:ETOR - Get Free Report)'s stock price reached a new 52-week low 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.

Analysts Set New Price Targets

ETOR has been the topic of several recent analyst reports. JMP Securities initiated coverage on eToro Group in a report on Monday, June 9th. They set a "market outperform" rating and a $85.00 price objective on the stock. UBS Group cut their price objective on eToro Group from $70.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday. Bank of America initiated coverage on eToro Group in a report on Monday, June 9th. They set a "neutral" rating and a $71.00 price objective on the stock. Jefferies Financial Group initiated coverage on eToro Group in a report on Monday, June 9th. They set a "buy" rating and a $80.00 price objective on the stock. Finally, Wall Street Zen upgraded eToro Group to a "hold" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $73.19.

eToro Group Stock 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 stock has a 50-day moving average of $60.18.

eToro Group (NASDAQ:ETOR - Get Free Report) last announced 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 company had revenue of $209.63 million for the quarter, compared to the consensus estimate of $194.60 million. The company's quarterly revenue was up 13.3% on a year-over-year basis.

Institutional Investors Weigh In On eToro Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nikko Asset Management Americas Inc. bought a new stake in shares of eToro Group during the 2nd quarter worth approximately $27,875,000. Ion Asset Management Ltd. bought a new stake in shares of eToro Group during the 2nd quarter worth approximately $13,318,000. Militia Capital Partners LP bought a new stake in shares of eToro Group during the 2nd quarter worth approximately $926,000. LMR Partners LLP bought a new stake in shares of eToro Group during the 2nd quarter worth approximately $4,104,000. Finally, Holocene Advisors LP bought a new stake in eToro Group in the 2nd quarter valued at $492,000.

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.