Opera (NASDAQ:OPRA) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Opera (NASDAQ:OPRA) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $15.00 price target on the stock.

According to Zacks, “Opera Limited provides web browsers, Opera News, an AI-driven content discovery platform. Opera Limited is based in OSLO, Norway. “

OPRA has been the topic of several other research reports. Citigroup set a $14.00 price objective on shares of Opera and gave the stock a buy rating in a research note on Friday, August 23rd. B. Riley set a $19.00 price objective on shares of Opera and gave the stock a buy rating in a research note on Friday, August 23rd.

Shares of Opera stock opened at $10.10 on Wednesday. The company’s fifty day simple moving average is $11.92 and its 200-day simple moving average is $10.00. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 34.22 and a beta of 2.02. Opera has a 1 year low of $5.31 and a 1 year high of $14.94.

Opera (NASDAQ:OPRA) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $61.73 million for the quarter, compared to the consensus estimate of $55.65 million. Opera had a net margin of 14.40% and a return on equity of 4.49%. On average, analysts anticipate that Opera will post 0.26 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. A.R.T. Advisors LLC acquired a new stake in shares of Opera in the second quarter worth $118,000. Cim LLC bought a new position in Opera in the second quarter worth $137,000. Anchor Capital Advisors LLC lifted its position in Opera by 52.5% in the first quarter. Anchor Capital Advisors LLC now owns 54,530 shares of the company’s stock worth $358,000 after purchasing an additional 18,770 shares during the period. Nomura Holdings Inc. bought a new position in Opera in the second quarter worth $496,000. Finally, Citadel Advisors LLC lifted its position in Opera by 80.7% in the second quarter. Citadel Advisors LLC now owns 83,175 shares of the company’s stock worth $868,000 after purchasing an additional 37,152 shares during the period. Institutional investors and hedge funds own 4.52% of the company’s stock.

About Opera

Opera Limited, through its subsidiaries, provides mobile and PC web browsers in Ireland, Russia, and internationally. It offers mobile browser products under the Opera Mini, Opera for Android, and Opera Touch names; PC browser under the Opera for Computers name; Opera News, a personalized news aggregation app; and Okash, a microfinance app.

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