eToro Group (NASDAQ:ETOR) Cut to Strong Sell at Zacks Research

eToro Group (NASDAQ:ETOR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

A number of other research analysts have also issued reports on ETOR. Mizuho reduced their target price on shares of eToro Group from $52.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, September 18th. Citizens Jmp lowered their price target on shares of eToro Group from $90.00 to $75.00 and set a “market outperform” rating for the company in a report on Friday, October 9th. The Goldman Sachs Group boosted their price objective on shares of eToro Group from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Keefe, Bruyette & Woods reduced their price objective on shares of eToro Group from $45.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 12th. Finally, KeyCorp decreased their target price on shares of eToro Group from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, October 16th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, eToro Group has a consensus rating of “Hold” and a consensus target price of $46.00.

eToro Group Stock Performance

Shares of NASDAQ:ETOR opened at $23.69 on Monday. eToro Group has a 52-week low of $23.27 and a 52-week high of $44.21. The stock’s fifty day simple moving average is $27.63 and its 200-day simple moving average is $32.82.

eToro Group (NASDAQ:ETOR) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.59 billion for the quarter. The firm’s revenue was down 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. On average, equities research analysts anticipate that eToro Group will post 2.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Shalev Eddy sold 100,000 shares of the stock in a transaction dated Friday, August 28th. The stock was 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 in the company, valued at approximately $6,139,504.80. This represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of eToro Group

Hedge funds have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of eToro Group by 61.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,988,552 shares of the company’s stock worth $59,716,000 after acquiring an additional 760,654 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in eToro Group by 12.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,017,374 shares of the company’s stock valued at $30,552,000 after purchasing an additional 110,998 shares during the period. Tidal Investments LLC grew its holdings in eToro Group by 1.9% in the second quarter. Tidal Investments LLC now owns 666,388 shares of the company’s stock valued at $26,302,000 after purchasing an additional 12,441 shares during the period. Wellington Management Group LLP purchased a new stake in eToro Group in the second quarter valued at approximately $22,134,000. Finally, Altshuler Shaham Ltd increased its position in eToro Group by 1.5% during the first quarter. Altshuler Shaham Ltd now owns 350,717 shares of the company’s stock worth $10,532,000 after purchasing an additional 5,077 shares during the last quarter.

eToro Group Company Profile

eToro Group Ltd. (NASDAQ: ETOR) operates a global, multi-asset investment and trading platform. Its services enable users to invest in stocks, exchange-traded funds, cryptocurrencies and other instruments, with product availability varying by jurisdiction and local regulations. In certain markets, eToro also offers contracts for difference and other leveraged products.

The company is known for combining online brokerage services with social-investing features. Users can view and discuss investment activity, follow other investors and use CopyTrader to automatically replicate the strategies of selected investors.