eToro Group’s (ETOR) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of eToro Group (NASDAQ:ETOR) in a research report report published on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a $53.00 price target on the stock.

A number of other brokerages also recently commented on ETOR. Susquehanna decreased their target price on eToro Group from $57.00 to $51.00 and set a “positive” rating for the company in a report on Thursday, August 13th. The Goldman Sachs Group lifted their price target on shares of eToro Group from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. KeyCorp started coverage on shares of eToro Group in a research report on Tuesday, September 1st. They set an “overweight” rating and a $45.00 price objective on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of eToro Group from $45.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, August 12th. Finally, Mizuho dropped their target price on shares of eToro Group from $60.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Eleven 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.12.

eToro Group Stock Down 1.1%

Shares of NASDAQ:ETOR opened at $27.93 on Tuesday. The stock’s 50-day moving average is $33.09 and its 200 day moving average is $35.06. The company has a market cap of $2.31 billion, a PE ratio of 10.50, a P/E/G ratio of 0.70 and a beta of 1.64. 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 has a 1 year low of $24.74 and a 1 year high of $46.28.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $1.59 billion during the quarter. eToro Group had a return on equity of 20.26% and a net margin of 2.17%.The company’s quarterly revenue was down 23.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. Sell-side analysts anticipate that eToro Group will post 2.53 EPS for the current year.

Insider Activity

In other news, Director Shalev Eddy sold 100,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $31.20, for a total value of $3,120,000.00. Following the completion of the transaction, the director owned 196,779 shares of the company’s stock, valued at approximately $6,139,504.80. This represents a 33.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On eToro Group

Several hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in eToro Group in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted 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 valued at $28,000 after buying an additional 727 shares during the period. State of Wyoming boosted its holdings in shares of eToro Group by 180.0% during the 1st quarter. State of Wyoming now owns 1,932 shares of the company’s stock valued at $58,000 after buying an additional 1,242 shares in the last quarter. Clarkston Capital Partners LLC purchased a new stake in shares of eToro Group in the 4th quarter worth about $228,000. Finally, CI Investments Inc. purchased a new stake in shares of eToro Group in the 1st quarter worth about $227,000.

About eToro Group

eToro Group Ltd. is a global trading and investment platform that operates the eToro online brokerage and social investing network. Founded in 2007 by Yoni Assia, Ronen Assia and David Ring, the company is designed to give individual investors access to financial markets through digital platforms.

eToro’s services include trading and investing in stocks, exchange-traded funds and cryptocurrencies, with product availability varying by jurisdiction. In certain markets, the platform also offers contracts for difference and other investment products.