01:33 PM EDT, 06/09/2025 (MT Newswires) -- EToro Group ( ETOR ) shares were up 4% in recent trading on Monday after multiple analysts initiated coverage on the company.

While eToro is well-positioned to benefit from the growth in global retail investing, it is still a newly public company and must prove it can deliver consistent growth amid potential near-term volatility, UBS Securities said in a note on Monday.

The firm said eToro has seen robust growth in funded accounts, rising from under 2.5 million in 2021 to nearly 3.5 million by the end of 2024.

Trading accounts for 68% of the company's revenue and is therefore sensitive to market conditions due to crypto trading volatility risk, UBS added.

The firm initiated coverage on eToro with a neutral rating and $70 price target.

Cantor Fitzgerald, Susquehanna, Needham, TD Cowen, Canaccord Genuity, Citigroup, Mizuho, Redburn Atlantic, Goldman Sachs, Keefe, Bruyette & Woods, and Deutsche Bank also initiated coverage on eToro's stock.

Price: 72.56, Change: +3.86, Percent Change: +5.61