eToro Group (NASDAQ:ETOR) Sets New 1-Year Low – Here’s What Happened

eToro Group Ltd. (NASDAQ:ETOR) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $34.40 and last traded at $34.44, with a volume of 857716 shares traded. The stock had previously closed at $36.47.

Analyst Ratings Changes

Several brokerages recently commented on ETOR. UBS Group decreased their price target on eToro Group from $70.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Keefe, Bruyette & Woods cut their price objective on eToro Group from $65.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $78.00 target price on shares of eToro Group in a report on Thursday, September 11th. Susquehanna cut their price target on shares of eToro Group from $70.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, July 18th. Finally, Citigroup decreased their price objective on shares of eToro Group from $62.00 to $57.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, eToro Group presently has an average rating of “Moderate Buy” and a consensus target price of $70.76.

eToro Group Stock Performance

The business’s 50-day moving average price is $41.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.76 and a quick ratio of 3.76. The firm has a market cap of $2.74 billion and a P/E ratio of 26.78.

eToro Group (NASDAQ:ETOR) last posted 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 the consensus estimate of $194.60 million. eToro Group’s revenue for the quarter was up 13.3% compared to the same quarter last year.

Institutional Investors Weigh In On eToro Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ibex Investors LLC acquired a new position in eToro Group in the third quarter valued at about $1,663,000. Guild Investment Management Inc. increased its stake in eToro Group by 144.2% during the 3rd quarter. Guild Investment Management Inc. now owns 53,855 shares of the company’s stock worth $2,223,000 after purchasing an additional 31,805 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of eToro Group by 88.7% during the third quarter. SBI Securities Co. Ltd. now owns 3,618 shares of the company’s stock worth $149,000 after acquiring an additional 1,701 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of eToro Group by 194.9% in the third quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock valued at $101,000 after purchasing an additional 1,631 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in eToro Group by 100.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,000 shares of the company’s stock worth $195,000 after acquiring an additional 2,500 shares during the last quarter.

About eToro Group

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