Zacks Research Upgrades eToro Group (NASDAQ:ETOR) to “Strong-Buy”

eToro Group (NASDAQ:ETOR) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their price target on eToro Group from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. TD Cowen upped their price target on eToro Group from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Jefferies Financial Group upped their price target on eToro Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Wall Street Zen raised eToro Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of eToro Group in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.80.

eToro Group Stock Performance

eToro Group stock opened at $37.76 on Tuesday. The firm has a market capitalization of $3.13 billion and a P/E ratio of 15.80. The stock has a fifty day moving average price of $37.14 and a 200 day moving average price of $34.56. eToro Group has a 52 week low of $24.74 and a 52 week high of $68.66. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.02.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $2.44 billion during the quarter. eToro Group had a return on equity of 19.79% and a net margin of 1.90%.The business’s revenue was down 35.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. Equities research analysts anticipate that eToro Group will post 2.76 earnings per share for the current year.

Insider Transactions at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $41.26, for a total value of $4,126,000.00. Following the completion of the transaction, the director owned 296,779 shares of the company’s stock, valued at approximately $12,245,101.54. This represents a 25.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hedva Ber sold 55,160 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.90, for a total value of $2,311,204.00. Following the completion of the transaction, the chief executive officer directly owned 20,660 shares of the company’s stock, valued at $865,654. This represents a 72.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of eToro Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in eToro Group during the second quarter worth about $669,000. Invesco Ltd. bought a new stake in shares of eToro Group in the 2nd quarter worth approximately $15,392,000. Nebula Research & Development LLC bought a new stake in shares of eToro Group in the 2nd quarter worth approximately $272,000. Squarepoint Ops LLC bought a new stake in shares of eToro Group in the 2nd quarter worth approximately $1,270,000. Finally, Raymond James Financial Inc. bought a new stake in shares of eToro Group in the 2nd quarter worth approximately $1,333,000.

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.