eToro Group Ltd (NASDAQ:ETOR) on Tuesday posted better-than-expected second-quarter financial results.

Etoro Group reported quarterly earnings of 68 cents per share which beat the analyst consensus estimate of 61 cents per share. The company reported quarterly sales of $1.593 billion which beat the analyst consensus estimate of $225.656 million.

“We delivered another strong quarter as we continue executing against our long-term strategy,” said Yoni Assia, Co-Founder and CEO of etoro.

The company also announced it will acquire online brokerage TradeZero for up to $231 million, comprising cash and up to 2.5 million of its shares.

etoro Group shares gained 0.6% to $29.50 in pre-market trading.

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 lowered the price target from $66 to $53.
  • Cantor Fitzgerald analyst Nathan Frankovitz maintained the stock with an Overweight rating and lowered the price target from $61 to $53.
  • Mizuho analyst Dan Dolev maintained the stock with an Outperform rating and cut the price target from $60 to $52.

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

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