eToro Group (NASDAQ:ETOR) Sets New 52-Week Low Following Analyst Downgrade

eToro Group Ltd. (NASDAQ:ETOR) reached a new 52-week low during mid-day trading on Tuesday after Susquehanna lowered their price target on the stock from $51.00 to $46.00. Susquehanna currently has a positive rating on the stock. eToro Group traded as low as $24.72 and last traded at $24.9290, with a volume of 80,065 shares trading hands. The stock had previously closed at $25.03.

Several other equities analysts have also issued reports on the stock. Weiss Ratings lowered shares of eToro Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 25th. Citizens Jmp dropped their target price on eToro Group from $90.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Friday. Needham & Company LLC cut their price target on eToro Group from $66.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Mizuho reduced their price target on eToro Group from $52.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, September 18th. Finally, Keefe, Bruyette & Woods decreased their price objective on eToro Group from $45.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, August 12th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, eToro Group has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Insider Activity at eToro Group

In related news, Director Shalev Eddy sold 100,000 shares of the 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 completion of the sale, the director owned 196,779 shares of the company’s stock, valued at $6,139,504.80. This represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of eToro Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. increased its position in 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 buying an additional 760,654 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of eToro Group by 12.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,017,374 shares of the company’s stock valued at $30,552,000 after acquiring an additional 110,998 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of eToro Group by 1.9% during the second quarter. Tidal Investments LLC now owns 666,388 shares of the company’s stock valued at $26,302,000 after acquiring an additional 12,441 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of eToro Group in the 2nd quarter valued at approximately $22,134,000. Finally, Altshuler Shaham Ltd raised its position in shares of eToro Group by 1.5% in the 1st quarter. Altshuler Shaham Ltd now owns 350,717 shares of the company’s stock valued at $10,532,000 after purchasing an additional 5,077 shares during the last quarter.

eToro Group Stock Down 0.6%

The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.67 and a beta of 1.79. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.02. The business’s 50 day moving average is $29.37 and its 200 day moving average is $34.53.

eToro Group (NASDAQ:ETOR) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $1.59 billion during the quarter. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The company’s quarterly revenue was down 23.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. Sell-side analysts anticipate that eToro Group Ltd. will post 2.53 earnings per share for the current 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.