eToro Group (NASDAQ:ETOR) Stock Moved Down to Strong Sell by Zacks Research

Zacks Research lowered shares of eToro Group (NASDAQ:ETOR) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks reports.

A number of other analysts also recently issued reports on ETOR. KeyCorp cut their price objective on eToro Group from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Mizuho reduced their price objective on shares of eToro Group from $52.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, September 18th. Weiss Ratings cut shares of eToro Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 25th. Susquehanna lowered their target price on shares of eToro Group from $51.00 to $46.00 and set a “positive” rating for the company in a research note on Tuesday, October 13th. Finally, The Goldman Sachs Group increased their target price on shares of eToro Group from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.00.

eToro Group Trading Up 0.7%

Shares of eToro Group stock opened at $23.69 on Monday. eToro Group has a fifty-two week low of $23.27 and a fifty-two week high of $44.21. The stock has a 50 day moving average of $27.63 and a 200 day moving average of $32.82.

eToro Group (NASDAQ:ETOR) last posted its earnings results on Tuesday, August 11th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $1.59 billion during the quarter. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down 23.9% on a year-over-year basis. Research analysts predict that eToro Group will post 2.28 earnings per share for the current year.

Insider Activity at eToro Group

In other news, Director Shalev Eddy sold 100,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $31.20, for a total transaction of $3,120,000.00. Following the completion of the transaction, the director directly owned 196,779 shares in the company, valued at $6,139,504.80. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On eToro Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its holdings in eToro Group by 42.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,590 shares of the company’s stock valued at $41,000 after acquiring an additional 476 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of eToro Group by 109.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,105 shares of the company’s stock valued at $28,000 after purchasing an additional 578 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of eToro Group by 1.9% in the second quarter. Tidal Investments LLC now owns 666,388 shares of the company’s stock valued at $26,302,000 after purchasing an additional 12,441 shares in the last quarter. Whetstone Capital Advisors LLC increased its stake in eToro Group by 36.8% during the 2nd quarter. Whetstone Capital Advisors LLC now owns 190,284 shares of the company’s stock worth $7,511,000 after buying an additional 51,197 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in eToro Group during the 2nd quarter worth approximately $22,134,000.

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.