eToro Group’s (ETOR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of eToro Group (NASDAQ:ETOR) in a research report sent to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a $58.00 price objective on the stock.

Several other research analysts have also recently weighed in on the stock. TD Cowen decreased their price target on shares of eToro Group from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. The Goldman Sachs Group lowered eToro Group from a “buy” rating to a “neutral” rating and set a $39.00 target price on the stock. in a research note on Monday, January 5th. Cantor Fitzgerald lowered their price target on eToro Group from $66.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Citigroup cut their price objective on eToro Group from $57.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Finally, Mizuho decreased their price objective on shares of eToro Group from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, January 16th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, eToro Group has a consensus rating of “Moderate Buy” and an average target price of $58.31.

eToro Group Trading Up 0.6%

Shares of ETOR opened at $31.18 on Wednesday. eToro Group has a twelve month low of $24.74 and a twelve month high of $79.96. The stock has a market cap of $2.55 billion and a PE ratio of 14.05. The company has a quick ratio of 4.63, a current ratio of 4.89 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $31.95 and its 200-day moving average price is $38.74.

eToro Group (NASDAQ:ETOR) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.60 by $0.11. The company had revenue of $3.87 billion during the quarter. eToro Group had a net margin of 1.56% and a return on equity of 21.35%.

Institutional Trading of eToro Group

A number of hedge funds have recently bought and sold shares of ETOR. Harel Insurance Investments & Financial Services Ltd. bought a new position in eToro Group during the fourth quarter valued at approximately $43,136,000. Invesco Ltd. grew its holdings in shares of eToro Group by 14,120.4% during the 4th quarter. Invesco Ltd. now owns 974,243 shares of the company’s stock valued at $34,225,000 after purchasing an additional 967,392 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of eToro Group by 67.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,695,702 shares of the company’s stock valued at $59,571,000 after purchasing an additional 683,008 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in eToro Group in the 2nd quarter worth $43,397,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in eToro Group in the second quarter worth $33,812,000.

About eToro Group

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.