Needham & Company LLC Cuts eToro Group (NASDAQ:ETOR) Price Target to $58.00

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

ETOR has been the topic of a number of other reports. Bank of America increased their price objective on shares of eToro Group from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Zacks Research upgraded shares of eToro Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. UBS Group reduced their price target on shares of eToro Group from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. The Goldman Sachs Group decreased their price target on eToro Group from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $78.00 price objective on shares of eToro Group in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.59.

eToro Group Price Performance

ETOR stock opened at $35.86 on Monday. 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 has a 52-week low of $32.66 and a 52-week high of $79.96. The stock’s 50 day moving average is $38.56 and its two-hundred day moving average is $46.94. The company has a market capitalization of $2.94 billion and a PE ratio of 19.38.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc bought a new position in eToro Group in the second quarter worth about $67,000. Newbridge Financial Services Group Inc. bought a new position in shares of eToro Group during the second quarter valued at approximately $82,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of eToro Group during the 2nd quarter worth approximately $120,000. SBI Securities Co. Ltd. acquired a new stake in shares of eToro Group during the 2nd quarter worth approximately $128,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of eToro Group by 194.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock worth $101,000 after purchasing an additional 1,631 shares during the last quarter.

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.