eToro Group (NASDAQ:ETOR) Stock Gets Price Target Reduction from Cantor Fitzgerald

eToro Group (NASDAQ:ETOR) had its price objective decreased by Cantor Fitzgerald from $53.00 to $48.00 in a report published on Tuesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. KeyCorp cut their price target on eToro Group from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Susquehanna lowered their price objective on eToro Group from $51.00 to $46.00 and set a “positive” rating on the stock in a research note on Tuesday, October 13th. TD Cowen lowered their price objective on eToro Group from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Wall Street Zen downgraded shares of eToro Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Canaccord Genuity Group cut their target price on shares of eToro Group from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.00.

eToro Group Stock Performance

Shares of ETOR opened at $23.37 on Tuesday. The firm has a market capitalization of $1.94 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.73 and a beta of 1.79. eToro Group has a 52 week low of $23.07 and a 52 week high of $44.21. The stock has a 50 day moving average price of $27.45 and a two-hundred day moving average price of $32.73. 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) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.59 billion for the quarter. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The firm’s revenue for the quarter was down 23.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 earnings per share. Equities analysts forecast that eToro Group will post 2.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Shalev Eddy sold 100,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director directly owned 196,779 shares in the company, valued at $6,139,504.80. This represents a 33.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in eToro Group by 365.3% during the first quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock valued at $28,000 after buying an additional 727 shares during the period. Nisa Investment Advisors LLC raised its position in eToro Group by 109.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,105 shares of the company’s stock worth $28,000 after acquiring an additional 578 shares during the period. Asset Management One Co. Ltd. raised its position in eToro Group by 42.7% in the third quarter. Asset Management One Co. Ltd. now owns 1,590 shares of the company’s stock worth $41,000 after acquiring an additional 476 shares during the period. State of Wyoming raised its position in eToro Group by 180.0% in the first quarter. State of Wyoming now owns 1,932 shares of the company’s stock worth $58,000 after acquiring an additional 1,242 shares during the period. Finally, CI Investments Inc. purchased a new position in shares of eToro Group during the 1st quarter worth $227,000.

About eToro Group

eToro Group Ltd. (NASDAQ: ETOR) operates a global, multi-asset investment and trading platform. Its services enable users to invest in stocks, exchange-traded funds, cryptocurrencies and other instruments, with product availability varying by jurisdiction and local regulations. In certain markets, eToro also offers contracts for difference and other leveraged products.

The company is known for combining online brokerage services with social-investing features. Users can view and discuss investment activity, follow other investors and use CopyTrader to automatically replicate the strategies of selected investors.