The Goldman Sachs Group Issues Pessimistic Forecast for eToro Group (NASDAQ:ETOR) Stock Price

eToro Group (NASDAQ:ETOR) had its target price decreased by The Goldman Sachs Group from $78.00 to $68.00 in a research report report published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald assumed coverage on eToro Group in a report on Monday, June 9th. They issued an “overweight” rating and a $84.00 price objective on the stock. Wall Street Zen upgraded eToro Group to a “hold” rating in a report on Tuesday, May 27th. Needham & Company LLC lowered their price objective on eToro Group from $80.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on eToro Group in a report on Monday, June 9th. They issued a “hold” rating and a $70.00 price objective on the stock. Finally, Bank of America began coverage on eToro Group in a report on Monday, June 9th. They set a “neutral” rating and a $71.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.19.

eToro Group Stock Performance

NASDAQ:ETOR opened at $48.14 on Wednesday. eToro Group has a 52 week low of $46.03 and a 52 week high of $79.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.76 and a current ratio of 3.76. The company’s 50-day simple moving average is $60.18.

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

Institutional Trading of eToro Group

Institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of eToro Group during the 2nd quarter valued at approximately $28,048,000. Caitong International Asset Management Co. Ltd purchased a new stake in eToro Group in the second quarter valued at approximately $120,000. Phoenix Financial Ltd. purchased a new stake in eToro Group in the second quarter valued at approximately $248,000. ARK Investment Management LLC purchased a new stake in eToro Group in the second quarter valued at approximately $16,516,000. Finally, International Assets Investment Management LLC purchased a new stake in eToro Group in the second quarter valued at approximately $514,000.

About eToro Group

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