Needham & Company LLC Cuts eToro Group (NASDAQ:ETOR) Price Target to $68.00

eToro Group (NASDAQ:ETOR) had its price objective lowered by equities researchers at Needham & Company LLC from $76.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 80.23% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods lowered their price objective on shares of eToro Group from $65.00 to $60.00 and set a “market perform” rating for the company in a research report on Wednesday, August 13th. Canaccord Genuity Group restated a “buy” rating and issued a $78.00 target price on shares of eToro Group in a research note on Thursday, September 11th. Compass Point assumed coverage on eToro Group in a research report on Monday, October 13th. They set a “buy” rating and a $66.00 price target on the stock. Citigroup cut their price target on eToro Group from $62.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Finally, Zacks Research upgraded eToro Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, eToro Group has a consensus rating of “Moderate Buy” and an average target price of $67.88.

eToro Group Trading Up 8.2%

ETOR stock opened at $37.73 on Tuesday. The firm’s 50 day moving average price is $40.71. eToro Group has a 12-month low of $32.66 and a 12-month high of $79.96. The firm has a market cap of $3.09 billion and a price-to-earnings ratio of 30.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.76 and a current ratio of 3.76.

eToro Group (NASDAQ:ETOR) last released its quarterly earnings data on Monday, November 10th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08.

Institutional Trading of eToro Group

Several hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc acquired a new position in eToro Group during the 2nd quarter worth $67,000. Newbridge Financial Services Group Inc. acquired a new position in shares of eToro Group during the second quarter valued at $82,000. Jones Financial Companies Lllp raised its stake in shares of eToro Group by 194.9% during the third quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock valued at $101,000 after purchasing an additional 1,631 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in eToro Group in the second quarter worth about $120,000. Finally, KLP Kapitalforvaltning AS bought a new position in eToro Group in the 3rd quarter valued at about $124,000.

About eToro Group

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