Needham & Company LLC Cuts eToro Group (NASDAQ:ETOR) Price Target to $58.00

eToro Group (NASDAQ:ETOR) had its price objective reduced by Needham & Company LLC from $68.00 to $58.00 in a report published on Monday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently weighed in on ETOR. UBS Group reduced their price target on eToro Group from $58.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. The Goldman Sachs Group decreased their target price on eToro Group from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Zacks Research raised shares of eToro Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Susquehanna upgraded shares of eToro Group from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $50.00 to $55.00 in a research note on Wednesday, November 12th. Finally, Citigroup dropped their target price on shares of eToro Group from $57.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, eToro Group presently has a consensus rating of “Moderate Buy” and an average price target of $65.59.

eToro Group Trading Down 1.2%

NASDAQ:ETOR opened at $35.13 on Monday. The company has a market capitalization of $2.88 billion and a P/E ratio of 18.99. The stock’s 50 day moving average price is $38.35 and its 200 day moving average price is $46.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.63 and a current ratio of 4.63. eToro Group has a 52 week low of $32.66 and a 52 week high of $79.96.

eToro Group (NASDAQ:ETOR) last posted its earnings results on Monday, November 10th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $214.60 million during the quarter. eToro Group had a net margin of 1.31% and a return on equity of 25.75%.

Institutional Investors Weigh In On eToro Group

Several hedge funds have recently made changes to their positions in ETOR. Balyasny Asset Management L.P. bought a new position in eToro Group during the second quarter valued at about $43,397,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of eToro Group during the second quarter valued at approximately $33,812,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of eToro Group in the second quarter valued at $28,048,000. Nikko Asset Management Americas Inc. acquired a new stake in eToro Group during the second quarter worth $27,875,000. Finally, UBS Group AG boosted its stake in eToro Group by 136.6% during the third quarter. UBS Group AG now owns 534,375 shares of the company’s stock worth $22,054,000 after buying an additional 308,525 shares in the last quarter.

eToro Group Company Profile

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.