Brokerages Set eToro Group Ltd. (NASDAQ:ETOR) Target Price at $60.65

eToro Group Ltd. (NASDAQ:ETOR) has been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $60.6471.

ETOR has been the topic of a number of research reports. The Goldman Sachs Group lowered eToro Group from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a report on Monday, January 5th. Susquehanna upgraded shares of eToro Group from a “neutral” rating to a “positive” rating and upped their price target for the company from $50.00 to $55.00 in a research note on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft raised shares of eToro Group from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, November 11th. Canaccord Genuity Group reissued a “buy” rating and issued a $78.00 price objective on shares of eToro Group in a report on Tuesday, November 11th. Finally, Needham & Company LLC lowered their target price on shares of eToro Group from $68.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, December 29th.

Hedge Funds Weigh In On eToro Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc acquired a new stake in shares of eToro Group during the 2nd quarter worth $67,000. Atria Wealth Solutions Inc. bought a new stake in eToro Group during the second quarter worth about $289,000. TD Asset Management Inc bought a new stake in eToro Group during the second quarter worth about $7,499,000. Conway Capital Management Inc. acquired a new stake in eToro Group during the second quarter worth about $390,000. Finally, International Assets Investment Management LLC bought a new position in eToro Group in the 2nd quarter valued at about $514,000.

eToro Group Price Performance

eToro Group stock opened at $27.46 on Friday. The company has a market capitalization of $2.25 billion and a price-to-earnings ratio of 14.84. The company has a current ratio of 4.63, a quick ratio of 4.63 and a debt-to-equity ratio of 0.03. eToro Group has a 12 month low of $24.74 and a 12 month high of $79.96. The stock’s 50 day moving average is $32.61 and its 200-day moving average is $39.22.

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.