eToro Group (NASDAQ:ETOR) Reaches New 1-Year Low – Here’s What Happened

eToro Group Ltd. (NASDAQ:ETOR)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $38.64 and last traded at $38.85, with a volume of 220791 shares changing hands. The stock had previously closed at $39.49.

Analyst Ratings Changes

ETOR has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $78.00 price target on shares of eToro Group in a report on Thursday, September 11th. The Goldman Sachs Group lowered their price objective on shares of eToro Group from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 3rd. Susquehanna lowered their price objective on shares of eToro Group from $70.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Zacks Research raised shares of eToro Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, Citigroup lowered their price objective on shares of eToro Group from $62.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.44.

eToro Group Price Performance

The firm has a 50-day moving average of $45.58. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.09.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $209.63 million during the quarter, compared to analysts’ expectations of $194.60 million. The firm’s revenue was up 13.3% on a year-over-year basis.

Institutional Investors Weigh In On eToro Group

Hedge funds have recently modified their holdings of the business. IFP Advisors Inc purchased a new stake in shares of eToro Group in the 2nd quarter worth approximately $67,000. Newbridge Financial Services Group Inc. purchased a new stake in eToro Group during the second quarter valued at approximately $82,000. Caitong International Asset Management Co. Ltd purchased a new stake in eToro Group during the second quarter valued at approximately $120,000. SBI Securities Co. Ltd. purchased a new stake in eToro Group during the second quarter valued at approximately $128,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in eToro Group during the second quarter valued at approximately $160,000.

eToro Group Company Profile

Our mission is to open the global markets, connect our users to leading investors and give them the tools they need to grow their knowledge and wealth. The global financial markets are widely recognized as one of the greatest paths to wealth creation, although they have historically been opaque and inaccessible to many.