eToro Group (NASDAQ:ETOR) Stock Rating Lowered by Zacks Research

eToro Group (NASDAQ:ETOR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities analysts have also recently weighed in on ETOR. UBS Group dropped their price objective on eToro Group from $50.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 12th. Mizuho reduced their target price on shares of eToro Group from $52.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, September 18th. Wall Street Zen downgraded shares of eToro Group from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Needham & Company LLC dropped their price target on shares of eToro Group from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Finally, The Goldman Sachs Group raised their price target on shares of eToro Group from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.00.

eToro Group Stock Performance

ETOR stock opened at $23.69 on Monday. eToro Group has a twelve month low of $23.27 and a twelve month high of $44.21. The stock’s 50 day moving average is $27.63 and its 200-day moving average is $32.82.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings results 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 company had revenue of $1.59 billion for the quarter. During the same period in the prior year, the business earned $0.56 EPS. The company’s quarterly revenue was down 23.9% compared to the same quarter last year. As a group, equities analysts predict that eToro Group will post 2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $31.20, for a total value of $3,120,000.00. Following the transaction, the director owned 196,779 shares of the company’s stock, valued at approximately $6,139,504.80. The trade was a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On eToro Group

Several large investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of eToro Group by 61.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,988,552 shares of the company’s stock worth $59,716,000 after purchasing an additional 760,654 shares during the period. Arrowstreet Capital Limited Partnership grew its position in eToro Group by 12.2% during 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. Tidal Investments LLC increased its holdings in eToro Group by 1.9% during the second quarter. Tidal Investments LLC now owns 666,388 shares of the company’s stock worth $26,302,000 after buying an additional 12,441 shares during the last quarter. Wellington Management Group LLP purchased a new stake in eToro Group during the second quarter worth about $22,134,000. Finally, Altshuler Shaham Ltd raised its position in eToro Group by 1.5% in the first quarter. Altshuler Shaham Ltd now owns 350,717 shares of the company’s stock worth $10,532,000 after acquiring an additional 5,077 shares during the period.

eToro Group Company Profile

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.