eToro Group (NASDAQ:ETOR) Hits New 1-Year Low After Analyst Downgrade

eToro Group Ltd. (NASDAQ:ETOR) hit a new 52-week low during trading on Wednesday after Mizuho lowered their price target on the stock from $80.00 to $65.00. Mizuho currently has an outperform rating on the stock. eToro Group traded as low as $39.90 and last traded at $40.13, with a volume of 477695 shares trading hands. The stock had previously closed at $41.27.

Several other analysts have also recently commented on ETOR. Needham & Company LLC decreased their price target on shares of eToro Group from $80.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Bank of America began 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. Zacks Research raised eToro Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Cantor Fitzgerald started coverage on eToro Group in a research report on Monday, June 9th. They issued an “overweight” rating and a $84.00 target price on the stock. Finally, Redburn Atlantic initiated coverage on eToro Group in a research note on Monday, June 9th. They set a “neutral” rating and a $68.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.94.

Institutional Trading of eToro Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. bought a new stake in shares of eToro Group during the 2nd quarter worth about $43,397,000. Adage Capital Partners GP L.L.C. acquired a new stake in eToro Group in the 2nd quarter worth approximately $33,812,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in eToro Group during the second quarter worth approximately $28,048,000. Nikko Asset Management Americas Inc. acquired a new position in eToro Group during the second quarter valued at approximately $27,875,000. Finally, Marshall Wace LLP acquired a new position in eToro Group during the second quarter valued at approximately $17,360,000.

eToro Group Price Performance

The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average is $48.57.

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 analysts’ consensus estimates 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.

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.