eToro Group (NASDAQ:ETOR) Price Target Cut to $60.00 by Analysts at The Goldman Sachs Group

eToro Group (NASDAQ:ETOR) had its target price trimmed by The Goldman Sachs Group from $69.00 to $60.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. JMP Securities began coverage on shares of eToro Group in a research report on Monday, June 9th. They issued a “market outperform” rating and a $85.00 price objective for the company. Needham & Company LLC decreased their price objective on shares of eToro Group from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. TD Cowen began coverage on shares of eToro Group in a research report on Monday, June 9th. They issued a “buy” rating and a $80.00 price objective for the company. Cantor Fitzgerald began coverage on shares of eToro Group in a research report on Monday, June 9th. They issued an “overweight” rating and a $84.00 price objective for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $78.00 price objective on shares of eToro Group in a research report on Thursday, September 11th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, eToro Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.44.

eToro Group Stock Down 1.2%

Shares of eToro Group stock opened at $40.98 on Friday. The business’s fifty day simple moving average is $47.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.76 and a quick ratio of 3.76. eToro Group has a twelve month low of $39.02 and a twelve month high of $79.96.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $209.63 million for the quarter, compared to analysts’ expectations of $194.60 million. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis.

Hedge Funds Weigh In On eToro Group

Several large investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. bought a new position in shares of eToro Group during the second quarter worth about $43,397,000. Adage Capital Partners GP L.L.C. bought a new position in shares of eToro Group during the second quarter worth about $33,812,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of eToro Group during the second quarter worth about $28,048,000. Nikko Asset Management Americas Inc. bought a new position in shares of eToro Group during the second quarter worth about $27,875,000. Finally, Marshall Wace LLP bought a new position in shares of eToro Group during the second quarter worth about $17,360,000.

eToro Group Company Profile

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.