eToro Group (NASDAQ:ETOR) Downgraded by Zacks Research to Hold

eToro Group (NASDAQ:ETOR) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

ETOR has been the topic of a number of other reports. Citizens Jmp raised their target price on shares of eToro Group from $85.00 to $90.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group boosted their price target on shares of eToro Group from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of eToro Group from a “hold” rating to a “buy” rating in a research report on Sunday. Keefe, Bruyette & Woods lifted their price objective on shares of eToro Group from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, TD Cowen upped their target price on shares of eToro Group from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.80.

eToro Group Price Performance

eToro Group stock opened at $38.53 on Tuesday. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 0.83 and a beta of 1.64. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $39.45 and a 200 day simple moving average of $34.57. eToro Group has a 52 week low of $24.74 and a 52 week high of $65.95.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.21. eToro Group had a return on equity of 19.79% and a net margin of 1.90%.The firm had revenue of $2.44 billion for the quarter. During the same period in the previous year, the business earned $0.69 EPS. The business’s revenue was down 35.0% on a year-over-year basis. On average, research analysts forecast that eToro Group will post 2.79 earnings per share for the current fiscal year.

Insider Activity at eToro Group

In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $41.26, for a total value of $4,126,000.00. Following the completion of the sale, the director owned 296,779 shares of the company’s stock, valued at $12,245,101.54. This represents a 25.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hedva Ber sold 55,160 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the transaction, the chief executive officer owned 20,660 shares in the company, valued at $865,654. The trade was a 72.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On eToro Group

Large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in eToro Group in the fourth quarter worth $43,136,000. Invesco Ltd. grew its stake in shares of eToro Group by 14,120.4% during 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 last quarter. T. Rowe Price Investment Management Inc. grew 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 valued at $59,571,000 after buying an additional 683,008 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of eToro Group in the second quarter worth about $43,397,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of eToro Group in the 2nd quarter valued at about $33,812,000.

eToro Group Company Profile

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.