eToro Group (NASDAQ:ETOR) Price Target Lowered to $60.00 at The Goldman Sachs Group

eToro Group (NASDAQ:ETOR) had its target price cut by analysts at The Goldman Sachs Group from $69.00 to $60.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 46.41% from the company’s previous close.

ETOR has been the topic of several other research reports. Mizuho cut their price objective on eToro Group from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday. Needham & Company LLC reduced their price target on eToro Group from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Citigroup lowered their price objective on eToro Group from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Redburn Atlantic assumed coverage on shares of eToro Group in a research report on Monday, June 9th. They set a “neutral” rating and a $68.00 target price on the stock. Finally, Zacks Research raised shares of eToro Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, eToro Group has an average rating of “Moderate Buy” and a consensus price target of $71.44.

eToro Group Trading Down 1.2%

ETOR stock opened at $40.98 on Friday. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average is $47.65. eToro Group has a 1 year low of $39.02 and a 1 year high of $79.96.

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

Institutional Investors Weigh In On eToro Group

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

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.