Meitav Investment House Ltd. Acquires Shares of 5,500 eToro Group Ltd. $ETOR

Meitav Investment House Ltd. bought a new position in shares of eToro Group Ltd. (NASDAQ:ETOR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,500 shares of the company’s stock, valued at approximately $366,000.

Separately, PFG Investments LLC acquired a new position in eToro Group during the 2nd quarter valued at about $278,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ETOR. Citigroup lowered their price objective on eToro Group from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. The Goldman Sachs Group dropped their price objective on eToro Group from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 3rd. Needham & Company LLC cut their price objective on shares of eToro Group from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Keefe, Bruyette & Woods lowered their target price on shares of eToro Group from $65.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, August 13th. Finally, Susquehanna cut their price target on shares of eToro Group from $70.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, eToro Group has an average rating of “Moderate Buy” and a consensus price target of $71.44.

eToro Group Stock Performance

Shares of NASDAQ:ETOR opened at $40.52 on Wednesday. eToro Group Ltd. has a 1 year low of $39.02 and a 1 year high of $79.96. The company has a fifty day simple moving average of $46.80. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.09.

eToro Group (NASDAQ:ETOR) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $209.63 million during the quarter, compared to analysts’ expectations of $194.60 million. eToro Group’s quarterly revenue was up 13.3% on a year-over-year basis.

eToro Group Profile

Our mission is to open the global markets, connect our users to leading investors and give them the tools they need to grow their knowledge and wealth. The global financial markets are widely recognized as one of the greatest paths to wealth creation, although they have historically been opaque and inaccessible to many.