eToro Group (NASDAQ:ETOR) Raised to “Strong-Buy” at KeyCorp

eToro Group (NASDAQ:ETOR) was upgraded by analysts at KeyCorp to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

ETOR has been the topic of several other research reports. Weiss Ratings lowered eToro Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 25th. Susquehanna lowered their target price on eToro Group from $57.00 to $51.00 and set a “positive” rating for the company in a report on Thursday, August 13th. Keefe, Bruyette & Woods dropped their price target on eToro Group from $45.00 to $35.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 12th. TD Cowen cut their price target on eToro Group from $55.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Finally, Zacks Research downgraded shares of eToro Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, eToro Group has an average rating of “Moderate Buy” and an average price target of $49.88.

eToro Group Price Performance

ETOR stock opened at $31.81 on Monday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.86 and a beta of 1.65. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.02. eToro Group has a 12-month low of $24.74 and a 12-month high of $47.70. The company’s fifty day simple moving average is $35.34 and its 200 day simple moving average is $35.05.

eToro Group (NASDAQ:ETOR) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. eToro Group had a return on equity of 20.26% and a net margin of 2.17%.The firm had revenue of $1.59 billion during the quarter. During the same quarter in the previous year, the business posted $0.56 earnings per share. The business’s revenue was down 23.9% on a year-over-year basis. On average, analysts expect that eToro Group will post 2.65 earnings per share for the current year.

Insider Activity

In other news, Director Shalev Eddy sold 100,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $31.20, for a total transaction of $3,120,000.00. Following the transaction, the director owned 196,779 shares of the company’s stock, valued at $6,139,504.80. This represents a 33.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in eToro Group by 12,484.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,929,333 shares of the company’s stock worth $76,151,000 after buying an additional 1,914,002 shares during the period. Wellington Management Group LLP acquired a new stake in eToro Group in the second quarter valued at approximately $22,134,000. Public Employees Retirement System of Ohio bought a new stake in shares of eToro Group during the second quarter valued at approximately $939,000. Segall Bryant & Hamill LLC bought a new stake in shares of eToro Group during the first quarter valued at approximately $2,775,000. Finally, Bank of America Corp DE raised its position in shares of eToro Group by 7.5% during the first quarter. Bank of America Corp DE now owns 226,207 shares of the company’s stock worth $6,793,000 after purchasing an additional 15,813 shares during the period.

About eToro Group

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.