Mizuho Cuts eToro Group (NASDAQ:ETOR) Price Target to $65.00

Key Points

• Mizuho has lowered its price target for eToro Group from $80.00 to $65.00, while maintaining an "outperform" rating, indicating a potential upside of 55.91% from the current stock price.
• Other analysts, such as Goldman Sachs and UBS, have also reduced their price targets for eToro Group, reflecting a cautious outlook on the stock.
• eToro Group reported $0.56 earnings per share for the last quarter, exceeding estimates, along with a year-over-year revenue increase of 13.3% to $209.63 million.

eToro Group (NASDAQ:ETOR - Get Free Report) had its price objective decreased by analysts at Mizuho from $80.00 to $65.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price objective indicates a potential upside of 55.91% from the stock's current price.

A number of other equities analysts also recently weighed in on the company. The Goldman Sachs Group reduced their price target on 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 cut their price target on shares of eToro Group from $70.00 to $66.00 and set a "neutral" rating on the stock in a research report on Friday, July 18th. Citizens Jmp started coverage on shares of eToro Group in a research report on Monday, June 9th. They set an "outperform" rating and a $85.00 price target on the stock. UBS Group dropped their price objective on eToro Group from $70.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Finally, Keefe, Bruyette & Woods dropped their price objective on eToro Group from $65.00 to $60.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $71.94.

eToro Group Trading Up 1.0%

Shares of NASDAQ:ETOR traded up $0.42 during trading on Wednesday, hitting $41.69. 20,703 shares of the company's stock traded hands, compared to its average volume of 1,186,769. eToro Group has a 52 week low of $40.15 and a 52 week high of $79.96. 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 firm has a 50-day simple moving average of $49.04.

eToro Group (NASDAQ:ETOR - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $209.63 million for the quarter, compared to the consensus estimate of $194.60 million. The company's revenue was up 13.3% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new position in eToro Group in the 2nd quarter valued at $67,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of eToro Group during the 2nd quarter worth $82,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of eToro Group during the 2nd quarter worth $120,000. SBI Securities Co. Ltd. acquired a new stake in eToro Group in the second quarter valued at about $128,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in eToro Group in the second quarter valued at about $160,000.

eToro Group Company Profile

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