Jefferies keeps Buy on eToro after earnings and revenue beat

Jefferies analyst Daniel Fannon notes that eToro (ETOR) reported adjusted Q2 EPS of 56c, beating the firm’s 46c estimate and consensus at 48c, and reported total net revenue of $210M, compared with the firm’s estimate of $195M and consensus of $194M, largely driven by equities, commodities and currencies trading revenue. Funded accounts increased 14.5% year-over-year in Q2, while assets under administration reached $17.5B as of June 30, up 54.9% year-over-year, noted the analyst, who has a Buy rating and $80 price target on the shares.