eToro Group (NASDAQ:ETOR) Sets New 1-Year Low After Analyst Downgrade

eToro Group Ltd. (NASDAQ:ETOR)’s stock price reached a new 52-week low during trading on Monday after KeyCorp lowered their price target on the stock from $45.00 to $40.00. KeyCorp currently has an overweight rating on the stock. eToro Group traded as low as $24.04 and last traded at $24.1840, with a volume of 372,010 shares trading hands. The stock had previously closed at $24.39.

A number of other equities analysts have also recently issued reports on the company. Susquehanna cut their target price on eToro Group from $51.00 to $46.00 and set a “positive” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings downgraded shares of eToro Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 25th. The Goldman Sachs Group boosted their price target 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. Bank of America reissued a “neutral” rating on shares of eToro Group in a report on Monday, October 5th. Finally, Wall Street Zen downgraded eToro Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, eToro Group has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Insider Activity

In other eToro Group news, Director Shalev Eddy sold 100,000 shares of the business’s 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 sale, the director owned 196,779 shares in the company, valued at approximately $6,139,504.80. The trade was a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On eToro Group

A number of institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. grew its stake 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 valued at $59,716,000 after purchasing an additional 760,654 shares during the period. Wellington Management Group LLP bought a new position in shares of eToro Group in the 2nd quarter worth approximately $22,134,000. Bank of New York Mellon Corp bought a new position in shares of eToro Group in the 1st quarter worth approximately $6,048,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of eToro Group in the first quarter worth approximately $5,706,000. Finally, Saba Capital Management L.P. boosted its holdings in shares of eToro Group by 156.2% in the first quarter. Saba Capital Management L.P. now owns 203,291 shares of the company’s stock worth $6,105,000 after buying an additional 123,952 shares during the last quarter.

eToro Group Price Performance

The firm’s 50-day moving average is $28.46 and its 200-day moving average is $34.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.02 and a quick ratio of 4.02. The company has a market capitalization of $2.00 billion, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 0.64 and a beta of 1.79.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results 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. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The business had revenue of $1.59 billion for the quarter. During the same quarter in the previous year, the business posted $0.56 earnings per share. The firm’s revenue was down 23.9% on a year-over-year basis. Analysts predict that eToro Group Ltd. will post 2.48 EPS for the current fiscal year.

About eToro Group

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.