eToro initiated with an Outperform at Citizens JMP

Citizens JMP initiated coverage of eToro (ETOR) with an Outperform rating and $85 price target implying 24% upside from the last close. eToro’s shift to consistent profitability reduces downside risk in the stock, the analyst tells investors in a research note. The firm believes the company’s “best days of growth are still ahead.” eToro is a global social trading and investment platform for retail investors to trade stocks, cryptocurrencies, and other assets, and it fosters a community-driven approach to wealth creation, contends Citizens JMP.