Keefe Bruyette cuts eToro stock price target on revised estimates
Keefe, Bruyette & Woods has decreased its price target for eToro Group (NASDAQ:ETOR) to $35 from $45, while keeping its market perform rating. The firm reviewed the company's recent quarterly results and revised its estimates for 2026, 2027, and 2028. eToro reported earnings per share above their estimate by $0.07 and consensus by $0.02.
Adjusted EBITDA surpassed expectations by around $8 million. Higher net contribution, better-than-expected operating expenses, and one-time benefits contributed to the earnings beat. However, a slightly higher tax rate and change in share count affected earnings per share. InvestingPro analysis suggests eToro is undervalued at current levels, trading below its Fair Value.
Despite strong second-quarter earnings, other analysts have lowered their price targets due to weaker-than-expected crypto trading volumes and trends.
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