eToro price target lowered to $65 from $78 at Canaccord

Canaccord lowered the firm’s price target on eToro (ETOR) to $65 from $78 and keeps a Buy rating on the shares. The firm said said while crypto markets were weak in Q4, strength in trading in other asset classes plus growth in funded accounts drove a roughly 6% sequential increase to net contribution. eToro has executed quite well since coming public, but the Q4 macro backdrop was clearly tougher.