eToro Group (NASDAQ:ETOR) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

eToro Group (NASDAQ:ETOR) had its price target increased by analysts at The Goldman Sachs Group from $32.00 to $36.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 16.82% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Needham & Company LLC lowered their price target on eToro Group from $66.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. UBS Group lowered their price target on eToro Group from $50.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. Cantor Fitzgerald dropped their price objective on eToro Group from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. KeyCorp initiated coverage on eToro Group in a research report on Tuesday, September 1st. They set an “overweight” rating and a $45.00 price objective for the company. Finally, TD Cowen decreased their target price on eToro Group from $55.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.12.

eToro Group Trading Down 0.2%

eToro Group stock traded down $0.07 during midday trading on Wednesday, reaching $30.82. The stock had a trading volume of 275,461 shares, compared to its average volume of 1,189,409. The firm’s fifty day simple moving average is $34.64 and its two-hundred day simple moving average is $35.15. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.82 and a beta of 1.64. eToro Group has a twelve month low of $24.74 and a twelve month high of $46.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.02 and a quick ratio of 4.02.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $1.59 billion during the quarter. eToro Group had a return on equity of 20.26% and a net margin of 2.17%.eToro Group’s revenue was down 23.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share. Equities analysts anticipate that eToro Group will post 2.56 EPS for the current fiscal year.

Insider Transactions at eToro Group

In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $31.20, for a total value of $3,120,000.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On eToro Group

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in eToro Group during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of eToro Group by 365.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock worth $28,000 after acquiring an additional 727 shares during the period. State of Wyoming grew its holdings in shares of eToro Group by 180.0% during the 1st quarter. State of Wyoming now owns 1,932 shares of the company’s stock worth $58,000 after purchasing an additional 1,242 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of eToro Group by 45.1% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock valued at $74,000 after purchasing an additional 555 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of eToro Group in the third quarter valued at $124,000.

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.