eToro Group (NASDAQ:ETOR) Given New $47.00 Price Target at Canaccord Genuity Group

eToro Group (NASDAQ:ETOR) had its price objective decreased by research analysts at Canaccord Genuity Group from $53.00 to $47.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 94.86% from the stock’s current price.

Several other research analysts also recently issued reports on ETOR. Mizuho reduced their price objective on eToro Group from $52.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, September 18th. Wall Street Zen cut eToro Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Bank of America restated a “neutral” rating on shares of eToro Group in a research report on Monday, October 5th. TD Cowen dropped their target price on eToro Group from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Finally, Citizens Jmp cut their price target on eToro Group from $90.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Friday, October 9th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, eToro Group has a consensus rating of “Moderate Buy” and an average price target of $46.27.

eToro Group Price Performance

Shares of ETOR stock traded down $0.27 during trading hours on Monday, reaching $24.12. 787,286 shares of the company were exchanged, compared to its average volume of 1,170,284. eToro Group has a fifty-two week low of $24.03 and a fifty-two week high of $44.21. The stock’s fifty day moving average is $28.46 and its two-hundred day moving average is $34.39. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 0.64 and a beta of 1.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.02 and a quick ratio of 4.02.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The business 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%. eToro Group’s revenue for the quarter was down 23.9% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. Sell-side analysts forecast that eToro Group will post 2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Shalev Eddy sold 100,000 shares of eToro Group stock in a transaction on Friday, August 28th. The shares were sold at an average price of $31.20, for a total transaction of $3,120,000.00. Following the transaction, the director directly owned 196,779 shares of the company’s stock, valued at $6,139,504.80. This trade represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Trading of eToro Group

Several hedge funds have recently bought and sold shares of ETOR. Tidal Investments LLC raised its holdings in shares of 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 acquiring an additional 12,441 shares during the period. Whetstone Capital Advisors LLC boosted its stake in eToro Group by 36.8% in the 2nd quarter. Whetstone Capital Advisors LLC now owns 190,284 shares of the company’s stock worth $7,511,000 after purchasing an additional 51,197 shares during the period. Wellington Management Group LLP acquired a new position in eToro Group in the 2nd quarter worth $22,134,000. Public Employees Retirement System of Ohio bought a new position in eToro Group during the 2nd quarter worth about $939,000. Finally, Segall Bryant & Hamill LLC bought a new position in eToro Group during the 1st quarter worth about $2,775,000.

eToro Group Company Profile

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.