The Goldman Sachs Group Issues Pessimistic Forecast for eToro Group (NASDAQ:ETOR) Stock Price

eToro Group (NASDAQ:ETOR) had its target price reduced by analysts at The Goldman Sachs Group from $35.00 to $31.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 6.71% from the company’s current price.

A number of other research firms have also recently commented on ETOR. Zacks Research cut shares of eToro Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Bank of America reaffirmed a “neutral” rating on shares of eToro Group in a research report on Wednesday, February 18th. TD Cowen decreased their price objective on eToro Group from $54.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, January 14th. Needham & Company LLC reissued a “buy” rating and issued a $58.00 price objective on shares of eToro Group in a research report on Wednesday, February 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $52.00 target price on shares of eToro Group in a research note on Monday, February 23rd. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.94.

eToro Group Price Performance

ETOR opened at $29.05 on Thursday. The business’s 50-day moving average is $30.06 and its two-hundred day moving average is $35.70. eToro Group has a 1 year low of $24.74 and a 1 year high of $79.96. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.89 and a quick ratio of 4.89. The firm has a market capitalization of $2.38 billion and a PE ratio of 13.09.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.60 by $0.11. eToro Group had a net margin of 1.56% and a return on equity of 21.35%. The business had revenue of $3.87 billion during the quarter.

Institutional Investors Weigh In On eToro Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. purchased a new position in eToro Group in the 2nd quarter worth $6,665,000. Federated Hermes Inc. purchased a new stake in eToro Group during the 2nd quarter valued at about $11,320,000. Norges Bank acquired a new position in shares of eToro Group in the second quarter valued at about $16,315,000. Farther Finance Advisors LLC acquired a new position in shares of eToro Group in the third quarter valued at about $1,996,000. Finally, Ibex Investors LLC purchased a new position in shares of eToro Group in the third quarter worth about $1,663,000.

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.