E*Trade Financial (ETFC) Received its Third Buy in a Row


After Wells Fargo and Raymond James gave E*Trade Financial (NASDAQ: ETFC) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Michael Cyprys maintained a Buy rating on E*Trade Financial today and set a price target of $66. The company’s shares closed yesterday at $52.44.

According to TipRanks.com, Cyprys is a 3-star analyst with an average return of 2.2% and a 49.1% success rate. Cyprys covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Victory Capital Holdings Inc, and Virtus Investment Partners.

Currently, the analyst consensus on E*Trade Financial is a Strong Buy with an average price target of $62.13, which is a 18.5% upside from current levels. In a report issued on October 30, Credit Suisse also maintained a Buy rating on the stock with a $58 price target.

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Based on E*Trade Financial’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $762 million and net profit of $285 million. In comparison, last year the company earned revenue of $622 million and had a net profit of $147 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ETFC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

E*TRADE Financial Corp. engages in the provision of investment and online stock brokerage services. It offers digital platforms and support to individual investors through phone, email, and online via two national financial centers as well as in personal though financial centers.

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