eToro Group (NASDAQ:ETOR) Price Target Raised to $66.00 at Needham & Company LLC

eToro Group (NASDAQ:ETOR) had its price objective lifted by research analysts at Needham & Company LLC from $58.00 to $66.00 in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 75.49% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ETOR. Canaccord Genuity Group lowered their price target on eToro Group from $78.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. The Goldman Sachs Group decreased their target price on eToro Group from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Mizuho dropped their price target on eToro Group from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, January 16th. Bank of America restated a “neutral” rating on shares of eToro Group in a research report on Wednesday, February 18th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of eToro Group in a research report on Wednesday, April 8th. They issued a “market perform” rating and a $35.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, eToro Group presently has a consensus rating of “Moderate Buy” and an average price target of $55.06.

eToro Group Stock Performance

Shares of eToro Group stock opened at $37.61 on Wednesday. The firm has a market cap of $3.12 billion and a PE ratio of 16.94. The firm’s 50-day simple moving average is $33.16 and its 200-day simple moving average is $34.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.89 and a current ratio of 4.89. eToro Group has a 1 year low of $24.74 and a 1 year high of $79.96.

eToro Group (NASDAQ:ETOR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.21. eToro Group had a return on equity of 21.35% and a net margin of 1.56%.The firm had revenue of $2.44 billion during the quarter. During the same period in the prior year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was down 35.0% compared to the same quarter last year. Equities analysts forecast that eToro Group will post 2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On eToro Group

Several hedge funds have recently modified their holdings of the stock. Swiss National Bank increased its stake in eToro Group by 9.4% in the 1st quarter. Swiss National Bank now owns 30,200 shares of the company’s stock worth $907,000 after purchasing an additional 2,600 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in eToro Group during the first quarter valued at about $6,048,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of eToro Group by 61.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,988,552 shares of the company’s stock worth $59,716,000 after buying an additional 760,654 shares during the period. Meitav Investment House Ltd. purchased a new position in shares of eToro Group in the first quarter worth approximately $387,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of eToro Group in the first quarter worth approximately $2,692,000.

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.