eToro Group (NASDAQ:ETOR) Posts Earnings Results, Beats Expectations By $0.08 EPS

eToro Group (NASDAQ:ETOR) issued its quarterly earnings results on Monday. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08, Zacks reports. The business had revenue of $214.60 million for the quarter.

eToro Group Price Performance

NASDAQ:ETOR traded up $0.04 during trading hours on Wednesday, hitting $41.28. 532,778 shares of the company were exchanged, compared to its average volume of 1,181,373. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.76 and a quick ratio of 3.76. eToro Group has a 52-week low of $32.66 and a 52-week high of $79.96. The stock has a market cap of $3.38 billion and a PE ratio of 33.02. The company’s 50 day moving average is $40.60.

Institutional Trading of eToro Group

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in shares of eToro Group during the third quarter worth $264,000. Ion Asset Management Ltd. purchased a new stake in shares of eToro Group in the second quarter worth about $13,318,000. Militia Capital Partners LP acquired a new stake in eToro Group during the second quarter worth about $926,000. LMR Partners LLP purchased a new position in shares of eToro Group during the 2nd quarter valued at approximately $4,104,000. Finally, Holocene Advisors LP acquired a new position in shares of eToro Group in the 2nd quarter valued at $492,000.

Wall Street Analysts Forecast Growth

ETOR has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $78.00 price objective on shares of eToro Group in a report on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of eToro Group from $65.00 to $60.00 and set a “market perform” rating on the stock in a report on Wednesday, August 13th. Compass Point assumed coverage on shares of eToro Group in a report on Monday, October 13th. They issued a “buy” rating and a $66.00 price objective for the company. Bank of America lifted their target price on shares of eToro Group from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Citigroup decreased their price target on shares of eToro Group from $57.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.18.

About eToro Group

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.