eToro Group (NASDAQ:ETOR) Reaches New 1-Year Low – Here’s Why

eToro Group Ltd. (NASDAQ:ETOR) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $29.68 and last traded at $31.49, with a volume of 435446 shares changing hands. The stock had previously closed at $31.33.

Analysts Set New Price Targets

A number of research firms have weighed in on ETOR. Canaccord Genuity Group reissued a “buy” rating and set a $78.00 target price on shares of eToro Group in a report on Tuesday, November 11th. Susquehanna upgraded shares of eToro Group from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $50.00 to $55.00 in a report on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft upgraded eToro Group from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, November 11th. TD Cowen lowered their target price on eToro Group from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Finally, Bank of America lifted their target price on eToro Group from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.65.

eToro Group Trading Up 1.8%

The company has a debt-to-equity ratio of 0.03, a current ratio of 4.63 and a quick ratio of 4.63. The firm has a market cap of $2.55 billion and a price-to-earnings ratio of 16.81. The firm’s fifty day moving average is $36.71 and its 200-day moving average is $43.18.

eToro Group (NASDAQ:ETOR) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $214.60 million during the quarter. eToro Group had a return on equity of 25.75% and a net margin of 1.31%.

Hedge Funds Weigh In On eToro Group

Several institutional investors have recently added to or reduced their stakes in the business. Capital World Investors grew its position in shares of eToro Group by 49.3% during the 3rd quarter. Capital World Investors now owns 877,969 shares of the company’s stock worth $36,234,000 after buying an additional 289,719 shares during the period. Balyasny Asset Management L.P. bought a new position in eToro Group during the second quarter worth $43,397,000. Wellington Management Group LLP boosted its stake in eToro Group by 11.0% during the third quarter. Wellington Management Group LLP now owns 555,601 shares of the company’s stock worth $22,930,000 after acquiring an additional 55,195 shares in the last quarter. UBS Group AG grew its holdings in eToro Group by 136.6% in the third quarter. UBS Group AG now owns 534,375 shares of the company’s stock worth $22,054,000 after purchasing an additional 308,525 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in eToro Group by 24.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 523,143 shares of the company’s stock valued at $21,590,000 after purchasing an additional 101,938 shares in the last quarter.

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.