Needham & Company LLC Issues Pessimistic Forecast for eToro Group (NASDAQ:ETOR) Stock Price

eToro Group (NASDAQ:ETOR) had its price target lowered by investment analysts at Needham & Company LLC from $80.00 to $76.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 59.80% from the company’s current price.

Several other brokerages have also issued reports on ETOR. Canaccord Genuity Group assumed coverage on eToro Group in a research note on Monday, June 9th. They issued a “buy” rating and a $78.00 price target on the stock. Citizens Jmp assumed coverage on eToro Group in a report on Monday, June 9th. They issued an “outperform” rating and a $85.00 price objective for the company. Mizuho assumed coverage on shares of eToro Group in a research report on Monday, June 9th. They issued an “outperform” rating and a $80.00 price target on the stock. Citigroup began coverage on eToro Group in a research report on Monday, June 9th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Wall Street Zen upgraded shares of eToro Group to a “hold” rating in a report on Tuesday, May 27th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.19.

eToro Group Stock Performance

Shares of ETOR stock opened at $47.56 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.76 and a quick ratio of 3.76. The stock’s 50 day moving average is $60.60. eToro Group has a 12-month low of $46.03 and a 12-month high of $79.96.

eToro Group (NASDAQ:ETOR) last announced its earnings results on Tuesday, August 12th. The company reported $0.56 EPS 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 the consensus estimate of $194.60 million. The firm’s revenue was up 13.3% compared to the same quarter last year.

Hedge Funds Weigh In On eToro Group

Several institutional investors have recently added to or reduced their stakes in ETOR. IFP Advisors Inc bought a new stake in eToro Group in the 2nd quarter valued at about $67,000. Caitong International Asset Management Co. Ltd purchased a new stake in eToro Group during the 2nd quarter valued at about $120,000. SBI Securities Co. Ltd. bought a new position in shares of eToro Group in the second quarter worth approximately $128,000. TD Waterhouse Canada Inc. purchased a new position in shares of eToro Group in the second quarter valued at about $160,000. Finally, Diametric Capital LP purchased a new position in eToro Group during the 2nd quarter valued at about $231,000.

About eToro Group

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