Goldman Sachs lowers eToro price target to $34 despite crypto trading surge

Goldman Sachs lowered its price target for eToro from $36 to $34 while maintaining a neutral rating, citing weaker-than-expected performance in ECC trading and eToro Money transfers. Although eToro's crypto trading volume surged 280% month-over-month to 5.3 million transactions in August, this growth was offset by underperformance in other segments. The firm also adjusted its earnings per share forecasts for 2026-2028 downward by 1-2%.