eToro: Multi-Year Global Expansion and Product Innovation Underpin Buy Rating

Analyst John Todaro of Needham maintained a Buy rating on eToro, with a price target of $58.00.

John Todaro’s rating is based on eToro’s strong multi-year growth outlook, underpinned by both geographic and product expansion. Management expects funded accounts to rise at a solid double-digit annual pace, with the U.S. highlighted as a key engine of that growth and the potential to roughly double its U.S. customer base over the next few years. The company also sees meaningful upside from building out its presence in Asia via Singapore and in the Middle East via Saudi Arabia, while viewing Latin America as an additional longer-term opportunity. These expansion vectors collectively support a favorable volume and revenue trajectory in Todaro’s view.
John Todaro has given his Buy rating due to a combination of factors that also include new and differentiated products, as well as disciplined customer acquisition. Management is particularly bullish on the broader rollout of CopyTrader in the U.S., which they expect to be a significant catalyst for user growth and engagement. Plans to broaden the crypto offering in Singapore and deepen the platform’s social features are designed to enhance differentiation versus traditional brokerage competitors. At the same time, eToro intends to scale U.S. marketing more aggressively starting in the second half of 2026, while focusing spend on channels that maximize customer lifetime value, which Todaro views as supportive of profitable growth and justifying a Buy recommendation.

Todaro covers the Financial sector, focusing on stocks such as Robinhood, TeraWulf Inc, and Streamex. According to TipRanks, Todaro has an average return of 69.7% and a 66.16% success rate on recommended stocks.

In another report released today, Mizuho Securities also maintained a Buy rating on the stock with a $60.00 price target.