eToro Group (NASDAQ:ETOR) Given New $58.00 Price Target at UBS Group

eToro Group (NASDAQ:ETOR) had its price target trimmed by UBS Group from $70.00 to $58.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently commented on ETOR. Wall Street Zen upgraded eToro Group to a “hold” rating in a report on Tuesday, May 27th. Citigroup decreased their price objective on eToro Group from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday. TD Cowen assumed coverage on eToro Group in a report on Monday, June 9th. They issued a “buy” rating and a $80.00 price target for the company. Bank of America assumed coverage on eToro Group in a report on Monday, June 9th. They set a “neutral” rating and a $71.00 price objective for the company. Finally, Needham & Company LLC reduced their price objective on eToro Group from $80.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, eToro Group has an average rating of “Moderate Buy” and an average price target of $73.19.

eToro Group Stock Down 0.9%

Shares of eToro Group stock opened at $47.56 on Thursday. eToro Group has a 52 week low of $46.03 and a 52 week high of $79.96. The company has a fifty day simple moving average of $60.60. 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 posted its earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The firm had revenue of $209.63 million for the quarter, compared to analyst estimates of $194.60 million. eToro Group’s revenue for the quarter was up 13.3% on a year-over-year basis.

Hedge Funds Weigh In On eToro Group

Several institutional investors have recently added to or reduced their stakes in ETOR. Sumitomo Mitsui Trust Group Inc. purchased a new stake in eToro Group during the second quarter valued at about $28,048,000. Marshall Wace LLP acquired a new stake in eToro Group during the second quarter valued at approximately $17,360,000. ARK Investment Management LLC acquired a new stake in eToro Group during the second quarter valued at approximately $16,516,000. Norges Bank acquired a new stake in eToro Group during the second quarter valued at approximately $16,315,000. Finally, Invesco Ltd. acquired a new stake in eToro Group during the second quarter valued at approximately $15,392,000.

About eToro Group

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