UBS Asserts ‘Neutral’ Rating on eToro Group Ltd. (ETOR) amid Improving Growth Metrics

eToro Group Ltd. (NASDAQ:ETOR) is one of the best cryptocurrency stocks to buy according to Wall Street analysts. On September 18, UBS analysts reiterated a ‘Neutral’ rating on the stock and a $58 price target. The stance follows a meeting with Elad Lavi, EVP of Corporate Development & Strategy, which affirmed the company’s industry position.

UBS Asserts ‘Neutral’ Rating on eToro Group Ltd. (ETOR) amid Improving Growth Metrics

During the meeting, it became clear that the company is well-positioned for growth as it continues to open new accounts and deepen client relationships. In addition to pursuing organic growth, eToro is also eyeing merger and acquisition opportunities as it strives to drive both product and geographic expansion.

According to UBS, eToro’s third quarter is off to a strong start, expected to drive upside in estimates. Likewise, the research firm believes the stock appears cheap relative to its peers and may have additional upside potential.

eToro Group Ltd. (NASDAQ:ETOR) is a social investing and trading platform that offers cryptocurrency trading, allowing users to buy, sell, and invest in various digital assets, including Bitcoin, Ethereum, and others.

While we acknowledge the potential of ETOR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ETOR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.