eToro Group (NASDAQ:ETOR) Shares Gap Up After Strong Earnings

Shares of eToro Group Ltd. (NASDAQ:ETOR) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $27.46, but opened at $31.41. eToro Group shares last traded at $31.84, with a volume of 1,244,053 shares trading hands.

The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.60 by $0.11. The firm had revenue of $3.87 billion for the quarter. eToro Group had a return on equity of 25.75% and a net margin of 1.31%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ETOR. UBS Group lowered their price objective on shares of eToro Group from $58.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Zacks Research cut shares of eToro Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Needham & Company LLC dropped their price target on eToro Group from $68.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, December 29th. Susquehanna upgraded eToro Group from a “neutral” rating to a “positive” rating and increased their price objective for the company from $50.00 to $55.00 in a research report on Wednesday, November 12th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $78.00 target price on shares of eToro Group in a report on Tuesday, November 11th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, eToro Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.65.

Institutional Investors Weigh In On eToro Group

A number of institutional investors have recently bought and sold shares of ETOR. American Century Companies Inc. acquired a new position in eToro Group during the second quarter worth $6,665,000. Federated Hermes Inc. bought a new stake in shares of eToro Group during the 2nd quarter worth about $11,320,000. Norges Bank acquired a new position in shares of eToro Group during the 2nd quarter valued at about $16,315,000. TD Asset Management Inc bought a new position in shares of eToro Group in the 2nd quarter valued at approximately $7,499,000. Finally, Farther Finance Advisors LLC acquired a new stake in eToro Group in the 3rd quarter worth approximately $1,996,000.

eToro Group Stock Up 15.4%

The company has a quick ratio of 4.63, a current ratio of 4.63 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $32.61 and a 200-day simple moving average of $39.22. The stock has a market cap of $2.60 billion and a P/E ratio of 17.12.

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.