eToro Group (NASDAQ:ETOR) Earns Buy Rating from Canaccord Genuity Group

eToro Group (NASDAQ:ETOR)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $65.00 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 66.28% from the stock’s current price.

A number of other research firms have also recently weighed in on ETOR. Citizens Jmp boosted their price target on eToro Group from $85.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 13th. TD Cowen boosted their price target on eToro Group from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Susquehanna boosted their price target on eToro Group from $55.00 to $57.00 and gave the stock a “positive” rating in a report on Wednesday, May 13th. Needham & Company LLC boosted their price target on eToro Group from $58.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $52.00 price objective on shares of eToro Group in a research report on Monday, February 23rd. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, eToro Group has a consensus rating of “Moderate Buy” and an average price target of $55.80.

eToro Group Stock Performance

NASDAQ ETOR opened at $39.09 on Tuesday. eToro Group has a fifty-two week low of $24.74 and a fifty-two week high of $79.96. The stock has a market cap of $3.24 billion and a price-to-earnings ratio of 16.36. The business has a fifty day moving average of $36.78 and a 200-day moving average of $34.55. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.02.

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

Insider Transactions at eToro Group

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ETOR. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of eToro Group during the fourth quarter worth about $43,136,000. Invesco Ltd. lifted 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 worth $34,225,000 after acquiring an additional 967,392 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted 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 worth $59,571,000 after acquiring an additional 683,008 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of eToro Group in the second quarter worth about $43,397,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of eToro Group in the second quarter worth about $33,812,000.

About eToro Group

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.