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.

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.

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