Zacks Research Upgrades eToro Group (NASDAQ:ETOR) to “Strong-Buy”

eToro Group (NASDAQ:ETOR) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also commented on ETOR. Keefe, Bruyette & Woods lifted their price target on eToro Group from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Susquehanna lifted their price target on eToro Group from $55.00 to $57.00 and gave the stock a “positive” rating in a research report on Wednesday, May 13th. Wall Street Zen raised eToro Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. The Goldman Sachs Group lifted their price target on eToro Group from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group lifted their price target on eToro Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.80.

eToro Group Price Performance

Shares of NASDAQ ETOR opened at $37.76 on Tuesday. The firm has a market capitalization of $3.13 billion and a PE ratio of 15.80. eToro Group has a fifty-two week low of $24.74 and a fifty-two week high of $68.66. The stock’s 50-day simple moving average is $37.14 and its 200-day simple moving average is $34.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.92 and a current ratio of 3.92.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. The company had revenue of $2.44 billion for the quarter. eToro Group had a return on equity of 19.79% and a net margin of 1.90%.The company’s quarterly revenue was down 35.0% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. As a group, equities research analysts forecast that eToro Group will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Shalev Eddy sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $41.26, for a total value of $4,126,000.00. Following the transaction, the director owned 296,779 shares of the company’s stock, valued at approximately $12,245,101.54. The trade was a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hedva Ber sold 55,160 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.90, for a total value of $2,311,204.00. Following the completion of the transaction, the chief executive officer directly owned 20,660 shares in the company, valued at approximately $865,654. The trade was a 72.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ETOR. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of eToro Group in the fourth quarter valued at approximately $43,136,000. Invesco Ltd. boosted its stake in shares of eToro Group by 14,120.4% in the fourth quarter. Invesco Ltd. now owns 974,243 shares of the company’s stock valued at $34,225,000 after buying an additional 967,392 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of eToro Group by 67.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company’s stock valued at $59,571,000 after buying an additional 683,008 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of eToro Group in the second quarter valued at approximately $43,397,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of eToro Group in the second quarter valued at approximately $33,812,000.

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.