eToro Group (NASDAQ:ETOR) Rating Lowered to Hold at Wall Street Zen

eToro Group (NASDAQ:ETOR) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also weighed in on ETOR. Zacks Research raised eToro Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of eToro Group in a research report on Tuesday. Bank of America reaffirmed a “neutral” rating on shares of eToro Group in a research report on Wednesday, February 18th. Susquehanna boosted their target price on shares of eToro Group from $55.00 to $57.00 and gave the stock a “positive” rating in a research report on Wednesday, May 13th. Finally, Needham & Company LLC boosted their target price on shares of eToro Group from $58.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, eToro Group has an average rating of “Moderate Buy” and an average price target of $55.80.

eToro Group Stock Down 1.3%

ETOR stock opened at $38.52 on Friday. eToro Group has a 12-month low of $24.74 and a 12-month high of $68.66. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. The company has a market cap of $3.19 billion and a price-to-earnings ratio of 16.12. The company has a 50 day moving average of $37.49 and a two-hundred day moving average of $34.60.

eToro Group (NASDAQ:ETOR) last released its earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.21. eToro Group had a net margin of 1.90% and a return on equity of 19.79%. The company had revenue of $2.44 billion during the quarter. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s quarterly revenue was down 35.0% compared to the same quarter last year. On average, equities analysts anticipate that eToro Group will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Shalev Eddy sold 100,000 shares of eToro Group 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 transaction, the director owned 296,779 shares of the company’s stock, valued at $12,245,101.54. This trade represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hedva Ber sold 55,160 shares of eToro Group stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.90, for a total transaction of $2,311,204.00. Following the completion of the transaction, the chief executive officer directly owned 20,660 shares in the company, valued at approximately $865,654. This represents a 72.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On eToro Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of eToro Group in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its position in shares of eToro Group by 365.3% in the first quarter. EverSource Wealth Advisors LLC now owns 926 shares of the company’s stock valued at $28,000 after acquiring an additional 727 shares during the period. Blue Trust Inc. bought a new stake in shares of eToro Group in the fourth quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. raised its position in shares of eToro Group by 45.1% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock valued at $74,000 after buying an additional 555 shares during the last quarter. Finally, State of Wyoming raised its position in shares of eToro Group by 180.0% during the first quarter. State of Wyoming now owns 1,932 shares of the company’s stock valued at $58,000 after buying an additional 1,242 shares during the last quarter.

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.