eToro Group Ltd (NASDAQ:ETOR) reported upbeat earnings for the first quarter on Tuesday.

The company posted quarterly earnings of 91 cents per share which beat the analyst consensus estimate of 73 cents per share. The company reported quarterly sales of $2.439 billion which beat the analyst consensus estimate of $229.869 million.

“I’m incredibly proud of the eToro team for delivering our strongest quarterly financial results as a public company, while continuing to accelerate product innovation. In the first quarter, we introduced 24/7 trading for commodities, equities and indices, added Japanese equities, and launched crypto trading in New York. We also saw acceleration in product launches with many new apps within the eToro App Store, AI-powered Agent Portfolios, and an integration with xAI for Tori, our AI agent,” Yoni Assia, CEO and Co-Founder of eToro said.

Etoro Group shares gained 8.3% to trade at $40.74 on Wednesday.

These analysts made changes to their price targets on Etoro Group following earnings announcement.

  • Needham analyst John Todaro maintained the stock with a Buy and raised the price target from $58 to $66.
  • Susquehanna analyst James Friedman maintained the stock with a Positive and boosted the price target from $55 to $57.
  • Keefe, Bruyette & Woods analyst Chris Allen maintained the stock with a Market Perform and raised the price target from $35 to $38.
  • Citizens analyst Devin Ryan maintained the stock with a Market Outperform and raised the price target from $85 to $90.

Considering buying ETOR stock? Here’s what analysts think:

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