eToro Group (NASDAQ:ETOR) Reaches New 52-Week Low – Here’s Why

eToro Group Ltd. (NASDAQ:ETOR) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $29.65 and last traded at $29.77, with a volume of 294256 shares changing hands. The stock had previously closed at $30.22.

Analysts Set New Price Targets

ETOR has been the topic of several recent research reports. Susquehanna raised shares of eToro Group from a “neutral” rating to a “positive” rating and raised their target price for the stock from $50.00 to $55.00 in a report on Wednesday, November 12th. Citigroup cut their target price on eToro Group from $57.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Bank of America raised their price target on eToro Group from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Needham & Company LLC dropped their price target on eToro Group from $68.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, December 29th. Finally, UBS Group reduced their price objective on shares of eToro Group from $58.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.65.

eToro Group Stock Down 2.7%

The company has a market capitalization of $2.41 billion and a price-to-earnings ratio of 15.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.63 and a quick ratio of 4.63. The firm’s fifty day moving average price is $35.82 and its 200-day moving average price is $41.91.

eToro Group (NASDAQ:ETOR) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $214.60 million for the quarter. eToro Group had a return on equity of 25.75% and a net margin of 1.31%.

Hedge Funds Weigh In On eToro Group

Several large investors have recently modified their holdings of ETOR. IFP Advisors Inc acquired a new stake in eToro Group in the second quarter valued at $67,000. Blue Trust Inc. bought a new stake in shares of eToro Group in the 4th quarter valued at about $42,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of eToro Group in the second quarter valued at about $82,000. Caitong International Asset Management Co. Ltd bought a new position in shares of eToro Group during the second quarter worth about $120,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of eToro Group in the second quarter worth approximately $128,000.

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.