Canaccord Genuity Group Cuts eToro Group (NASDAQ:ETOR) Price Target to $65.00

eToro Group (NASDAQ:ETOR) had its price objective lowered by Canaccord Genuity Group from $78.00 to $65.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

ETOR has been the subject of several other reports. UBS Group dropped their price objective on eToro Group from $58.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Citigroup reduced their price objective on shares of eToro Group from $57.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Cantor Fitzgerald dropped their target price on shares of eToro Group from $66.00 to $50.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Needham & Company LLC cut their price target on eToro Group from $68.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, December 29th. Finally, 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 research note on Wednesday, January 14th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.31.

eToro Group Stock Up 0.6%

NASDAQ:ETOR opened at $31.18 on Wednesday. The company has a market cap of $2.55 billion and a price-to-earnings ratio of 14.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.63 and a current ratio of 4.89. The stock’s fifty day moving average price is $31.95 and its two-hundred day moving average price is $38.74. eToro Group has a 52-week low of $24.74 and a 52-week high of $79.96.

eToro Group (NASDAQ:ETOR) last released its earnings results on Tuesday, February 17th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.60 by $0.11. eToro Group had a return on equity of 21.35% and a net margin of 1.56%.The company had revenue of $3.87 billion during the quarter.

Institutional Investors Weigh In On eToro Group

Several large investors have recently modified their holdings of ETOR. Blue Trust Inc. acquired a new stake in shares of eToro Group during the fourth quarter worth about $42,000. Newbridge Financial Services Group Inc. grew its position in shares of eToro Group by 45.1% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,785 shares of the company’s stock valued at $74,000 after purchasing an additional 555 shares during the period. Jones Financial Companies Lllp increased its stake in eToro Group by 194.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,468 shares of the company’s stock worth $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 during the 2nd quarter worth approximately $120,000. Finally, KLP Kapitalforvaltning AS bought a new position in eToro Group in the third quarter valued at approximately $124,000.

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.