Canaccord Genuity Group Cuts eToro Group (NASDAQ:ETOR) Price Target to $53.00

eToro Group (NASDAQ:ETOR) had its price target decreased by Canaccord Genuity Group from $65.00 to $53.00 in a research note released on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities analysts have also recently commented on the company. Susquehanna cut their price target on eToro Group from $57.00 to $51.00 and set a “positive” rating for the company in a report on Thursday, August 13th. Zacks Research lowered eToro Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Wall Street Zen lowered eToro Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Mizuho lowered their price objective on eToro Group from $60.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Finally, The Goldman Sachs Group cut their target price on eToro Group from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.47.

eToro Group Stock Performance

NASDAQ:ETOR opened at $30.31 on Thursday. The firm’s 50-day moving average is $36.40 and its 200-day moving average is $34.81. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.84 and a beta of 1.68. 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 has a 52-week low of $24.74 and a 52-week high of $47.70.

eToro Group (NASDAQ:ETOR) last released its earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The business had revenue of $1.59 billion during the quarter. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s quarterly revenue was down 23.9% on a year-over-year basis. Equities research analysts anticipate that eToro Group will post 2.7 earnings per share for the current year.

Insider Transactions at eToro Group

In related news, CEO Hedva Ber sold 55,160 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $41.90, for a total value of $2,311,204.00. Following the transaction, the chief executive officer owned 20,660 shares in the company, valued at $865,654. This trade represents a 72.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of eToro Group by 61.9% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,988,552 shares of the company’s stock valued at $59,716,000 after purchasing an additional 760,654 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of eToro Group by 67.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company’s stock worth $59,571,000 after buying an additional 683,008 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in eToro Group by 47.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,240,339 shares of the company’s stock valued at $43,573,000 after buying an additional 401,697 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in eToro Group by 12.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,017,374 shares of the company’s stock valued at $30,552,000 after buying an additional 110,998 shares during the period. Finally, Invesco Ltd. lifted its holdings in eToro Group by 14,120.4% in the fourth quarter. Invesco Ltd. now owns 974,243 shares of the company’s stock valued at $34,225,000 after buying an additional 967,392 shares during the period.

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.