eToro Group (NASDAQ:ETOR) Price Target Cut to $58.00 by Analysts at Needham & Company LLC

eToro Group (NASDAQ:ETOR) had its target price reduced by analysts at Needham & Company LLC from $68.00 to $58.00 in a note issued to investors on Monday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 61.74% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded eToro Group from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, November 11th. Mizuho dropped their target price on shares of eToro Group from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. UBS Group cut their price target on shares of eToro Group from $58.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Susquehanna raised shares of eToro Group from a “neutral” rating to a “positive” rating and lifted their price target for the company from $50.00 to $55.00 in a research report on Wednesday, November 12th. Finally, Zacks Research upgraded shares of eToro Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.59.

eToro Group Stock Down 0.3%

Shares of ETOR opened at $35.86 on Monday. eToro Group has a fifty-two week low of $32.66 and a fifty-two week high of $79.96. The company’s fifty day moving average is $38.56 and its two-hundred day moving average is $46.94. The firm has a market cap of $2.94 billion and a PE ratio of 19.38. The company has a quick ratio of 4.63, a current ratio of 4.63 and a debt-to-equity ratio of 0.03.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings data on Monday, November 10th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $214.60 million during the quarter. eToro Group had a return on equity of 25.75% and a net margin of 1.31%.

Hedge Funds Weigh In On eToro Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc acquired a new position in shares of eToro Group during the second quarter worth $67,000. Newbridge Financial Services Group Inc. grew its holdings in eToro Group by 45.1% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock valued at $74,000 after purchasing an additional 555 shares in the last quarter. Jones Financial Companies Lllp increased its stake in eToro Group by 194.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock worth $101,000 after buying an additional 1,631 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in eToro Group in the 2nd quarter worth $120,000. Finally, KLP Kapitalforvaltning AS acquired a new position in eToro Group in the 3rd quarter worth $124,000.

About eToro Group

eToro Group Ltd. (NASDAQ: ETOR) is a global multi-asset brokerage company known for its social trading platform. The company enables individual and institutional investors to trade and invest in a broad range of financial instruments, including stocks, exchange-traded funds (ETFs), commodities, indices, forex, and cryptocurrencies. eToro’s platform integrates a user-friendly interface with advanced trading tools, catering to both novice and experienced market participants.

A distinguishing feature of eToro’s offering is its CopyTrader™ functionality, which allows users to replicate the trades of selected investors on the platform.