eToro Group (NASDAQ:ETOR) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of eToro Group (NASDAQ:ETOR) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on ETOR. Jefferies Financial Group upped their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of eToro Group from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. TD Cowen boosted their target price on shares of eToro Group from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. The Goldman Sachs Group upped their price target 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. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of eToro Group in a research note on Tuesday, June 9th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, eToro Group currently has an average rating of “Moderate Buy” and an average price target of $55.80.

eToro Group Stock Up 1.0%

Shares of ETOR opened at $38.53 on Tuesday. The firm has a market cap of $3.19 billion, a P/E ratio of 16.12, a PEG ratio of 0.83 and a beta of 1.64. eToro Group has a 12 month low of $24.74 and a 12 month high of $65.95. The stock’s 50 day moving average is $39.45 and its two-hundred day moving average is $34.57. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.02.

eToro Group (NASDAQ:ETOR) last announced its earnings results on Tuesday, May 12th. The company reported $0.91 earnings per share 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 business had revenue of $2.44 billion during the quarter. During the same period in the previous year, the company earned $0.69 earnings per share. The company’s quarterly revenue was down 35.0% compared to the same quarter last year. Analysts predict that eToro Group will post 2.79 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Hedva Ber sold 55,160 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 20,660 shares of the company’s stock, valued at approximately $865,654. This represents a 72.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $41.26, for a total transaction of $4,126,000.00. Following the completion of the transaction, the director directly owned 296,779 shares in the company, valued at $12,245,101.54. This trade represents a 25.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On eToro Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of eToro Group during the 4th quarter valued at about $43,136,000. Hillman Co. acquired a new stake in eToro Group during the fourth quarter worth about $1,196,000. Exchange Traded Concepts LLC increased its position in eToro Group by 89.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 135,060 shares of the company’s stock worth $4,745,000 after purchasing an additional 63,669 shares during the last quarter. Ibex Investors LLC raised its stake in eToro Group by 1,016.9% during the fourth quarter. Ibex Investors LLC now owns 450,000 shares of the company’s stock worth $15,808,000 after purchasing an additional 409,711 shares during the period. Finally, FJ Capital Management LLC purchased a new position in eToro Group during the fourth quarter worth about $3,684,000.

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.