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

Key Points

• eToro shares hit a new 52-week low, falling to $24.72 after Susquehanna cut its price target from $51 to $46, despite maintaining a positive rating.
• Analyst sentiment remains broadly favorable but mixed: eToro has a consensus “Moderate Buy” rating and a $47 average price target, with recent downgrades from UBS and Wall Street Zen.
• The company beat quarterly EPS expectations, reporting $0.68 versus the $0.61 consensus, but revenue fell 23.9% year over year to $1.59 billion; a director also sold 100,000 shares worth $3.12 million.

Shares of eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) reached a new 52-week low on Tuesday after Susquehanna lowered their price target on the stock from $51.00 to $46.00. Susquehanna currently has a positive rating on the stock. eToro Group traded as low as $24.72 and last traded at $24.9290, with a volume of 80,065 shares trading hands. The stock had previously closed at $25.03.

Other equities analysts also recently issued reports about the stock. UBS Group cut their price target on shares of eToro Group from $50.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, August 12th. Wall Street Zen downgraded shares of eToro Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Bank of America restated a "neutral" rating on shares of eToro Group in a research report on Monday, October 5th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of eToro Group in a research note on Monday, September 21st. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $53.00 price target on shares of eToro Group in a report on Tuesday, September 15th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.00.

Insider Activity at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $31.20, for a total value of $3,120,000.00. Following the transaction, the director owned 196,779 shares of the company's stock, valued at $6,139,504.80. This trade represents a 33.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On eToro Group

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its holdings in shares of eToro Group by 2.2% in the first quarter. California State Teachers Retirement System now owns 15,331 shares of the company's stock valued at $460,000 after purchasing an additional 331 shares during the period. Royal Bank of Canada increased its holdings in eToro Group by 6.0% during the 1st quarter. Royal Bank of Canada now owns 11,801 shares of the company's stock worth $354,000 after purchasing an additional 668 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in eToro Group during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in eToro Group by 365.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company's stock worth $28,000 after purchasing an additional 727 shares during the period. Finally, State of Wyoming raised its position in eToro Group by 180.0% during the 1st quarter. State of Wyoming now owns 1,932 shares of the company's stock valued at $58,000 after purchasing an additional 1,242 shares in the last quarter.

eToro Group Trading Down 0.6%

The firm has a market capitalization of $2.06 billion, a P/E ratio of 9.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.79. The stock has a 50-day simple moving average of $29.37 and a two-hundred day simple moving average of $34.53. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02.

eToro Group (NASDAQ:ETOR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. eToro Group had a return on equity of 20.26% and a net margin of 2.17%. The business had revenue of $1.59 billion for the quarter. During the same period in the previous year, the company posted $0.56 EPS. eToro Group's quarterly revenue was down 23.9% compared to the same quarter last year. On average, equities research analysts anticipate that eToro Group Ltd. will post 2.53 earnings per share for the current year.

eToro Group Company Profile

eToro Group Ltd. is a global trading and investment platform that combines online brokerage services with social investing features. Through its platform, customers can access a range of financial instruments, including stocks, exchange-traded funds, cryptocurrencies and, in certain jurisdictions, contracts for difference and other leveraged products. Product availability varies according to local regulations.

Founded in 2007, eToro developed a community-oriented approach to investing that allows users to view other members' portfolios and trading activity.

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