TD Cowen Issues Pessimistic Forecast for eToro Group (NASDAQ:ETOR) Stock Price

eToro Group (NASDAQ:ETOR) had its price objective lowered by research analysts at TD Cowen from $35.00 to $33.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 32.21% from the stock’s previous close.

ETOR has been the topic of several other reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of eToro Group in a research report on Monday, September 21st. KeyCorp started 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. Keefe, Bruyette & Woods decreased their target price on eToro Group from $45.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, August 12th. Citizens Jmp decreased their target price on eToro Group from $90.00 to $75.00 and set a “market outperform” rating for the company in a research note on Friday. Finally, Weiss Ratings lowered eToro Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 25th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.50.

eToro Group Stock Performance

NASDAQ:ETOR traded down $0.94 during midday trading on Monday, reaching $24.96. The stock had a trading volume of 514,387 shares, compared to its average volume of 1,173,355. eToro Group has a 1-year low of $24.74 and a 1-year high of $44.21. The firm’s fifty day simple moving average is $29.60 and its 200-day simple moving average is $34.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.02 and a quick ratio of 4.02. The stock has a market capitalization of $2.07 billion, a P/E ratio of 9.38, a PEG ratio of 0.67 and a beta of 1.79.

eToro Group (NASDAQ:ETOR) last announced its earnings results on Tuesday, August 11th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The firm had revenue of $1.59 billion for the quarter. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The business’s revenue was down 23.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. On average, equities research analysts forecast that eToro Group will post 2.53 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in ETOR. Caitong International Asset Management Co. Ltd bought a new stake in shares of eToro Group in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in eToro Group by 365.3% during the first quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock worth $28,000 after buying an additional 727 shares in the last quarter. State of Wyoming increased its stake in eToro Group by 180.0% during the first quarter. State of Wyoming now owns 1,932 shares of the company’s stock valued at $58,000 after acquiring an additional 1,242 shares during the period. CI Investments Inc. acquired a new position in eToro Group in the 1st quarter valued at approximately $227,000. Finally, Amundi acquired a new position in eToro Group in the 1st quarter valued at approximately $271,000.

About eToro Group

eToro Group Ltd. is a global trading and investment platform that combines online brokerage services with social investing features. Through its platform, customers can access a range of financial instruments, including stocks, exchange-traded funds, cryptocurrencies and, in certain jurisdictions, contracts for difference and other leveraged products. Product availability varies according to local regulations.

Founded in 2007, eToro developed a community-oriented approach to investing that allows users to view other members’ portfolios and trading activity.