eToro Group (NASDAQ:ETOR) Given New $62.00 Price Target at Citigroup

eToro Group (NASDAQ:ETOR) had its price objective trimmed by Citigroup from $72.00 to $62.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

ETOR has been the topic of several other reports. Citizens Jmp started coverage on eToro Group in a research report on Monday, June 9th. They set an “outperform” rating and a $85.00 target price on the stock. TD Cowen initiated coverage on eToro Group in a research report on Monday, June 9th. They set a “buy” rating and a $80.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on eToro Group in a report on Monday, June 9th. They issued a “hold” rating and a $70.00 price objective on the stock. Redburn Atlantic initiated coverage on eToro Group in a report on Monday, June 9th. They issued a “neutral” rating and a $68.00 price objective on the stock. Finally, Mizuho initiated coverage on eToro Group in a report on Monday, June 9th. They issued an “outperform” rating and a $80.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.94.

eToro Group Trading Down 5.4%

NASDAQ ETOR opened at $48.00 on Wednesday. The stock’s 50-day simple moving average is $60.90. eToro Group has a twelve month low of $47.00 and a twelve month high of $79.96. 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 released its 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 for the quarter, compared to analysts’ expectations of $194.60 million. The company’s revenue was up 13.3% compared to the same quarter last year.

Institutional Investors Weigh In On eToro Group

Several hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of eToro Group during the 2nd quarter valued at about $28,048,000. Marshall Wace LLP purchased a new stake in shares of eToro Group during the 2nd quarter valued at about $17,360,000. ARK Investment Management LLC acquired a new stake in eToro Group during the 2nd quarter valued at approximately $16,516,000. Norges Bank acquired a new stake in eToro Group during the 2nd quarter valued at approximately $16,315,000. Finally, Invesco Ltd. acquired a new stake in eToro Group during the 2nd quarter valued at approximately $15,392,000.

About eToro Group

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.