Why eToro Group Stock Rocketed 9% Higher on Tuesday

Core Insights - eToro Group demonstrated impressive growth in its third quarter, significantly outperforming the S&P 500 index with a stock increase of over 9% [1][2] - The positive sentiment was largely driven by an upgrade from Deutsche Bank, which raised its recommendation to buy and increased the price target to $45 [3][4] Financial Performance - eToro's revenue more than doubled to $4.1 billion from $1.6 billion year-over-year [6] - The net income, not according to GAAP, rose 34% to over $60 million, surpassing average analyst estimates [6] - The company has shown strong operational momentum, especially in the U.S. market, despite a 25% decline in stock price since its IPO in May [4][6] Market Reaction - The stock closed at $3.51, reflecting a 9.30% increase on the day, with a market capitalization of $3 billion [5][6] - The trading volume was 5.7 million, significantly higher than the average volume of 980,000 [6]