UBS Reiterates Neutral Rating on eToro Group (ETOR) as Q3 Off to a Strong Start

UBS analyst Alex Kramm reiterated a Neutral rating and $58.00 price target on eToro Group (NASDAQ: ETOR).

The analyst commented, "This week we hosted several investor meetings with Elad Lavi, ETOR's EVP, Corporate Development & Strategy. The meetings gave us a better appreciation of the company's strong industry position and growth opportunities, as ETOR should be well positioned to grow new accounts and deepen its relationship with clients. M&A was a constant topic, with the company evaluating multiple opportunities to drive both product and geographic expansion. 3Q appears to be off to a strong start, which could drive upside to estimates if typical seasonality holds. The stock continues to look cheap relative to peers and could have outsized upside potential. That said, we remain on the sidelines to see more evidence of consistent growth and execution."

For an analyst ratings summary and ratings history on eToro Group click here. For more ratings news on eToro Group click here.

Shares of eToro Group closed at $42.92 yesterday.

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