eToro Group (NASDAQ:ETOR) Stock Gets Price Target Trim from Needham & Company LLC

eToro Group (NASDAQ:ETOR) had its price target lowered by Needham & Company LLC from $55.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

ETOR has been the subject of several other research reports. Canaccord Genuity Group cut their price target on eToro Group from $53.00 to $47.00 and set a “buy” rating for the company in a report on Monday, October 19th. Susquehanna decreased their price objective on eToro Group from $51.00 to $46.00 and set a “positive” rating on the stock in a research note on Tuesday, October 13th. Wall Street Zen cut eToro Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Bank of America reaffirmed a “neutral” rating on shares of eToro Group in a research report on Monday, October 5th. Finally, The Goldman Sachs Group boosted their price objective on eToro Group from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.33.

eToro Group Trading Down 1.6%

Shares of ETOR stock opened at $23.92 on Wednesday. eToro Group has a 1 year low of $23.81 and a 1 year high of $44.21. The firm has a fifty day moving average price of $27.90 and a 200-day moving average price of $34.16. 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 cap of $1.98 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 0.69 and a beta of 1.79.

eToro Group (NASDAQ:ETOR) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. eToro Group had a return on equity of 20.26% and a net margin of 2.17%. The firm had revenue of $1.59 billion during the quarter. During the same quarter last year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was down 23.9% on a year-over-year basis. As a group, equities analysts predict that eToro Group will post 2.48 earnings per share for the current year.

Insider Transactions at eToro Group

In other news, Director Shalev Eddy sold 100,000 shares of eToro Group stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $31.20, for a total transaction of $3,120,000.00. Following the sale, the director owned 196,779 shares in the company, valued at $6,139,504.80. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On eToro Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in eToro Group by 109.7% during the third quarter. Nisa Investment Advisors LLC now owns 1,105 shares of the company’s stock valued at $28,000 after acquiring an additional 578 shares in the last quarter. Tidal Investments LLC lifted its stake in eToro Group by 1.9% in the 2nd quarter. Tidal Investments LLC now owns 666,388 shares of the company’s stock worth $26,302,000 after purchasing an additional 12,441 shares in the last quarter. Whetstone Capital Advisors LLC lifted its stake in eToro Group by 36.8% in the 2nd quarter. Whetstone Capital Advisors LLC now owns 190,284 shares of the company’s stock worth $7,511,000 after purchasing an additional 51,197 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of eToro Group during the 2nd quarter valued at about $22,134,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of eToro Group during the 2nd quarter valued at about $939,000.

About eToro Group

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.