The Goldman Sachs Group Cuts eToro Group (NASDAQ:ETOR) Price Target to $32.00

eToro Group (NASDAQ:ETOR) had its price objective cut by The Goldman Sachs Group from $36.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

ETOR has been the subject of several other reports. Canaccord Genuity Group cut their target price on shares of eToro Group from $65.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 20th. Keefe, Bruyette & Woods lowered their price target on eToro Group from $45.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 12th. Wall Street Zen lowered eToro Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Susquehanna cut their price objective on eToro Group from $57.00 to $51.00 and set a “positive” rating for the company in a research report on Thursday, August 13th. Finally, Needham & Company LLC reduced their target price on eToro Group from $66.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.20.

eToro Group Stock Performance

NASDAQ ETOR opened at $32.25 on Tuesday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 0.80 and a beta of 1.68. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $35.73 and its two-hundred day moving average price is $34.97. eToro Group has a 1 year low of $24.74 and a 1 year high of $47.70.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $1.59 billion during the quarter. eToro Group had a net margin of 2.17% and a return on equity of 20.26%. The business’s revenue was down 23.9% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. As a group, research analysts anticipate that eToro Group will post 2.7 EPS for the current year.

Insider Buying and Selling at eToro Group

In related news, CEO Hedva Ber sold 55,160 shares of eToro Group stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the completion of the sale, the chief executive officer directly owned 20,660 shares of the company’s stock, valued at approximately $865,654. This trade represents a 72.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in shares of eToro Group by 2.2% during the first quarter. California State Teachers Retirement System now owns 15,331 shares of the company’s stock worth $460,000 after buying an additional 331 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of eToro Group by 45.1% in the third quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock valued at $74,000 after acquiring an additional 555 shares in the last quarter. Royal Bank of Canada increased its position in eToro Group by 6.0% during the first quarter. Royal Bank of Canada now owns 11,801 shares of the company’s stock worth $354,000 after acquiring an additional 668 shares during the period. Public Employees Retirement System of Ohio raised its stake in eToro Group by 23.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,700 shares of the company’s stock worth $130,000 after purchasing an additional 700 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in eToro Group in the 4th quarter worth about $25,000.

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.