UBS Group Cuts eToro Group (NASDAQ:ETOR) Price Target to $50.00

eToro Group (NASDAQ:ETOR) had its price objective cut by UBS Group from $58.00 to $50.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

ETOR has been the subject of several other research reports. Needham & Company LLC decreased their price objective on shares of eToro Group from $76.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday. Zacks Research raised eToro Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Keefe, Bruyette & Woods lowered their target price on eToro Group from $65.00 to $60.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 13th. Bank of America increased their price target on eToro Group from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Susquehanna upgraded eToro Group from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $50.00 to $55.00 in a research note on Wednesday. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, eToro Group has a consensus rating of “Moderate Buy” and a consensus target price of $66.18.

eToro Group Trading Up 3.2%

Shares of ETOR opened at $40.50 on Wednesday. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.09. The firm’s fifty day moving average price is $40.23. eToro Group has a 12 month low of $32.66 and a 12 month high of $79.96. The company has a market capitalization of $3.32 billion and a PE ratio of 32.40.

eToro Group (NASDAQ:ETOR) last issued its earnings results on Monday, November 10th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $214.60 million for the quarter.

Institutional Investors Weigh In On eToro Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. purchased a new position in eToro Group during the second quarter valued at approximately $43,397,000. Adage Capital Partners GP L.L.C. bought a new position in eToro Group in the 2nd quarter valued at $33,812,000. Sumitomo Mitsui Trust Group Inc. bought a new position in eToro Group in the 2nd quarter valued at $28,048,000. Nikko Asset Management Americas Inc. purchased a new position in shares of eToro Group during the 2nd quarter valued at $27,875,000. Finally, UBS Group AG increased its holdings in shares of eToro Group by 136.6% in the third quarter. UBS Group AG now owns 534,375 shares of the company’s stock worth $22,054,000 after purchasing an additional 308,525 shares during the period.

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.