eToro Group Ltd. (NASDAQ:ETOR) Receives $55.80 Average Price Target from Brokerages

eToro Group Ltd. (NASDAQ:ETOR) has earned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $55.80.

ETOR has been the topic of a number of research analyst reports. Zacks Research cut shares of eToro Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Needham & Company LLC lifted their price objective on shares of eToro Group from $58.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Citizens Jmp boosted their price objective on shares of eToro Group from $85.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 13th. Susquehanna upped their target price on shares of eToro Group from $55.00 to $57.00 and gave the stock a “positive” rating in a research note on Wednesday, May 13th. Finally, TD Cowen raised 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.

eToro Group Price Performance

ETOR opened at $36.68 on Tuesday. The business has a fifty day moving average of $39.35 and a 200 day moving average of $34.59. The stock has a market cap of $3.04 billion, a P/E ratio of 15.35, a PEG ratio of 0.78 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. 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 earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. eToro Group had a return on equity of 19.79% and a net margin of 1.90%.The business had revenue of $2.44 billion for the quarter. During the same quarter in the previous year, the business earned $0.69 EPS. The business’s revenue for the quarter was down 35.0% on a year-over-year basis. As a group, sell-side analysts anticipate that eToro Group will post 2.79 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Hedva Ber sold 55,160 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was 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 approximately $865,654. This trade represents a 72.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shalev Eddy sold 100,000 shares of eToro Group stock in a transaction dated Thursday, May 14th. The shares were 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. The trade was a 25.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of eToro Group in the 4th quarter valued at about $43,136,000. Invesco Ltd. boosted 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 purchasing an additional 967,392 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in 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 period. Balyasny Asset Management L.P. purchased a new position in eToro Group during the second quarter valued at approximately $43,397,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in eToro Group in the second quarter worth approximately $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.