Citigroup Cuts eToro Group (NASDAQ:ETOR) Price Target to $62.00

eToro Group (NASDAQ:ETOR) had its target price reduced by investment analysts at Citigroup from $72.00 to $62.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 30.36% from the stock’s current price.

A number of other equities research analysts have also issued reports on ETOR. Susquehanna decreased their target price on shares of eToro Group from $70.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of eToro Group in a report on Monday, June 9th. They set a “hold” rating and a $70.00 price target on the stock. Bank of America assumed coverage on shares of eToro Group in a report on Monday, June 9th. They set a “neutral” rating and a $71.00 price target on the stock. Redburn Atlantic assumed coverage on shares of eToro Group in a report on Monday, June 9th. They set a “neutral” rating and a $68.00 price target on the stock. Finally, TD Cowen assumed coverage on shares of eToro Group in a report on Monday, June 9th. They set a “buy” rating and a $80.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.19.

eToro Group Price Performance

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

eToro Group (NASDAQ:ETOR) last issued its earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $209.63 million for the quarter, compared to analyst estimates of $194.60 million. eToro Group’s quarterly revenue was up 13.3% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ETOR. PFG Investments LLC bought a new position in shares of eToro Group during the 2nd quarter worth about $278,000. Hennessy Advisors Inc. bought a new position in shares of eToro Group during the 2nd quarter worth about $999,000. Meitav Investment House Ltd. bought a new position in shares of eToro Group during the 2nd quarter worth about $366,000. Guild Investment Management Inc. bought a new position in shares of eToro Group during the 2nd quarter worth about $1,468,000. Finally, IFP Advisors Inc bought a new position in shares of eToro Group during the 2nd quarter worth about $67,000.

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.