Needham & Company LLC Has Lowered Expectations for eToro Group (NASDAQ:ETOR) Stock Price

eToro Group (NASDAQ:ETOR) had its price objective decreased by investment analysts at Needham & Company LLC from $68.00 to $58.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 63.20% from the stock’s previous close.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft raised eToro Group from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, November 11th. UBS Group lowered their target price on eToro Group from $58.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Compass Point assumed coverage on eToro Group in a research note on Monday, October 13th. They issued a “buy” rating and a $66.00 price target on the stock. Citigroup reduced their price objective on shares of eToro Group from $57.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded shares of eToro Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, eToro Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.59.

eToro Group Stock Down 0.4%

Shares of NASDAQ ETOR opened at $35.54 on Monday. The company’s 50 day moving average price is $38.40 and its 200-day moving average price is $46.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.63 and a current ratio of 4.63. eToro Group has a 52-week low of $32.66 and a 52-week high of $79.96. The company has a market capitalization of $2.91 billion and a P/E ratio of 19.21.

eToro Group (NASDAQ:ETOR) last announced its earnings results on Monday, November 10th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $214.60 million during the quarter. eToro Group had a net margin of 1.31% and a return on equity of 25.75%.

Institutional Trading of eToro Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. PFG Investments LLC bought a new stake in eToro Group during the second quarter worth $278,000. Hennessy Advisors Inc. purchased a new stake in shares of eToro Group during the 2nd quarter valued at $999,000. Meitav Investment House Ltd. bought a new stake in shares of eToro Group during the 2nd quarter worth $366,000. Guild Investment Management Inc. purchased a new position in shares of eToro Group in the 2nd quarter worth about $1,468,000. Finally, IFP Advisors Inc bought a new position in eToro Group during the second quarter valued at about $67,000.

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.