eToro Group (NASDAQ:ETOR) Price Target Cut to $40.00 by Analysts at KeyCorp

eToro Group (NASDAQ:ETOR) had its target price cut by investment analysts at KeyCorp from $45.00 to $40.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 63.03% from the company’s previous close.

ETOR has been the subject of several other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of eToro Group in a report on Monday, September 21st. Bank of America reiterated a “neutral” rating on shares of eToro Group in a report on Monday, October 5th. Citizens Jmp dropped their price target on eToro Group from $90.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Friday, October 9th. The Goldman Sachs Group raised their price objective on shares of eToro Group from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Finally, Zacks Research lowered shares of eToro Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.67.

eToro Group Trading Down 1.4%

Shares of ETOR stock opened at $24.54 on Friday. eToro Group has a fifty-two week low of $24.09 and a fifty-two week high of $44.21. The business has a fifty day simple moving average of $28.68 and a 200-day simple moving average of $34.42. The stock has a market cap of $2.03 billion, a P/E ratio of 9.22, a P/E/G ratio of 0.64 and a beta of 1.79. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.02.

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

Insiders Place Their Bets

In related news, Director Shalev Eddy sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On eToro Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in eToro Group in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of eToro Group by 365.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock worth $28,000 after purchasing an additional 727 shares during the period. State of Wyoming grew its position in shares of eToro Group by 180.0% in the first quarter. State of Wyoming now owns 1,932 shares of the company’s stock valued at $58,000 after purchasing an additional 1,242 shares in the last quarter. CI Investments Inc. bought a new stake in eToro Group in the 1st quarter worth approximately $227,000. Finally, Amundi bought a new position in eToro Group during the 1st quarter valued at approximately $271,000.

eToro Group Company Profile

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.