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

Key Points

• eToro shares hit a new 52-week low, trading as low as $24.04 after KeyCorp cut its price target from $45 to $40, while maintaining an overweight rating.
• Analyst sentiment remains broadly positive but has weakened: 10 analysts rate the stock Buy, six Hold and one Sell, producing a “Moderate Buy” consensus and an average target of $46.67.
• The company recently beat quarterly EPS expectations ($0.68 versus $0.61), but revenue fell 23.9% year over year to $1.59 billion. Director Shalev Eddy also sold 100,000 shares, reducing his position by 33.7%.

Shares of eToro Group Ltd. (NASDAQ:ETOR - Get Free Report) hit a new 52-week low during mid-day trading on Monday after KeyCorp lowered their price target on the stock from $45.00 to $40.00. KeyCorp currently has an overweight rating on the stock. eToro Group traded as low as $24.04 and last traded at $24.1840, with a volume of 372,010 shares changing hands. The stock had previously closed at $24.39.

A number of other analysts have also recently commented on ETOR. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $53.00 price target on shares of eToro Group in a research note on Tuesday, September 15th. Weiss Ratings downgraded shares of eToro Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 25th. Needham & Company LLC cut their price target on shares of eToro Group from $66.00 to $53.00 and set a "buy" rating on the stock in a research note on Wednesday, August 12th. Mizuho reduced their price target on shares of eToro Group from $52.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, September 18th. Finally, Citizens Jmp dropped their price objective on shares of eToro Group from $90.00 to $75.00 and set a "market outperform" rating on the stock in a report on Friday, October 9th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.67.

Insiders Place Their Bets

In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $31.20, for a total transaction of $3,120,000.00. Following the sale, the director directly owned 196,779 shares of the company's stock, valued at $6,139,504.80. The trade was a 33.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Institutional Investors Weigh In On eToro Group

Hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of eToro Group by 61.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,988,552 shares of the company's stock valued at $59,716,000 after purchasing an additional 760,654 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in eToro Group by 12.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,017,374 shares of the company's stock worth $30,552,000 after acquiring an additional 110,998 shares during the period. Tidal Investments LLC raised its stake in eToro Group by 1.9% in the 2nd quarter. Tidal Investments LLC now owns 666,388 shares of the company's stock worth $26,302,000 after purchasing an additional 12,441 shares in the last quarter. Wellington Management Group LLP acquired a new stake in eToro Group in the 2nd quarter worth about $22,134,000. Finally, Altshuler Shaham Ltd boosted its holdings in eToro Group by 1.5% in the 1st quarter. Altshuler Shaham Ltd now owns 350,717 shares of the company's stock valued at $10,532,000 after purchasing an additional 5,077 shares during the period.

eToro Group Stock Down 1.0%

The stock's fifty day simple moving average is $28.46 and its 200-day simple moving average is $34.39. The stock has a market cap of $2.00 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.64 and a beta of 1.79. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.02.

eToro Group (NASDAQ:ETOR - Get Free Report) last issued 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 prior year, the company earned $0.56 EPS. The company's quarterly revenue was down 23.9% compared to the same quarter last year. As a group, research analysts forecast that eToro Group Ltd. will post 2.48 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.