eToro Group (NASDAQ:ETOR) Earns Buy Rating from Canaccord Genuity Group

eToro Group (NASDAQ:ETOR)‘s stock had its “buy” rating reissued by Canaccord Genuity Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $65.00 price objective on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 66.28% from the company’s current price.

ETOR has been the topic of a number of other reports. Jefferies Financial Group raised their target price on shares of eToro Group from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. The Goldman Sachs Group raised their target price on shares of eToro Group from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Bank of America restated a “neutral” rating on shares of eToro Group in a research report on Wednesday, February 18th. Keefe, Bruyette & Woods raised their target price on shares of eToro Group from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $52.00 target price on shares of eToro Group in a research report on Monday, February 23rd. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, eToro Group currently has a consensus rating of “Moderate Buy” and an average price target of $55.80.

eToro Group Trading Up 2.2%

ETOR opened at $39.09 on Tuesday. The company has a market cap of $3.24 billion and a P/E ratio of 16.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.92 and a current ratio of 3.92. eToro Group has a one year low of $24.74 and a one year high of $79.96. The business’s 50-day simple moving average is $36.78 and its 200-day simple moving average is $34.55.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.70 by $0.21. eToro Group had a return on equity of 19.79% and a net margin of 1.90%.The company had revenue of $2.44 billion for the quarter. During the same period last year, the firm earned $0.69 EPS. The company’s quarterly revenue was down 35.0% on a year-over-year basis. As a group, equities research analysts expect that eToro Group will post 2.76 EPS for the current fiscal year.

Insider Activity at eToro Group

In other news, CEO Hedva Ber sold 55,160 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $41.90, for a total value 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 $865,654. This trade represents a 72.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shalev Eddy sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $41.26, for a total value of $4,126,000.00. Following the completion of the sale, the director directly owned 296,779 shares of the company’s stock, valued at $12,245,101.54. This represents a 25.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Trading of eToro Group

Several hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new position in eToro Group during the fourth quarter worth $43,136,000. ARK Investment Management LLC raised its holdings in eToro Group by 56.1% during the third quarter. ARK Investment Management LLC now owns 387,164 shares of the company’s stock worth $15,978,000 after purchasing an additional 139,132 shares during the last quarter. Ibex Investors LLC acquired a new position in eToro Group during the third quarter worth $1,663,000. Amova Asset Management Americas Inc. raised its holdings in eToro Group by 24.7% during the third quarter. Amova Asset Management Americas Inc. now owns 523,143 shares of the company’s stock worth $21,553,000 after purchasing an additional 103,788 shares during the last quarter. Finally, Hillman Co. acquired a new position in eToro Group during the fourth quarter worth $1,196,000.

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.