Tidal Investments LLC Boosts Holdings in Opera Limited (NASDAQ:OPRA)

Tidal Investments LLC grew its position in shares of Opera Limited (NASDAQ:OPRA) by 75.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,176,565 shares of the company’s stock after purchasing an additional 506,425 shares during the period. Tidal Investments LLC owned approximately 1.33% of Opera worth $22,284,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OPRA. Marshall Wace LLP increased its stake in shares of Opera by 99.7% in the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company’s stock worth $27,656,000 after buying an additional 729,001 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Opera by 7.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company’s stock worth $17,644,000 after buying an additional 61,051 shares during the last quarter. Portolan Capital Management LLC increased its stake in shares of Opera by 5.1% in the fourth quarter. Portolan Capital Management LLC now owns 748,349 shares of the company’s stock worth $14,174,000 after buying an additional 36,529 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Opera in the fourth quarter worth $10,646,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Opera in the fourth quarter worth $7,535,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Analysts Set New Price Targets

OPRA has been the subject of a number of research analyst reports. Lake Street Capital lifted their price target on shares of Opera from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Piper Sandler initiated coverage on shares of Opera in a research note on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 price target for the company. Finally, The Goldman Sachs Group dropped their price target on shares of Opera from $26.00 to $22.50 and set a “buy” rating for the company in a research note on Monday, April 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.90.

Opera Stock Performance

Opera stock opened at $18.21 on Monday. The company has a market cap of $1.61 billion, a PE ratio of 9.24 and a beta of 1.01. The company has a fifty day moving average price of $16.40 and a two-hundred day moving average price of $18.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. Opera Limited has a 12 month low of $10.11 and a 12 month high of $22.50.

Opera (NASDAQ:OPRA) last released its quarterly earnings data on Monday, April 28th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $142.72 million during the quarter, compared to the consensus estimate of $132.48 million. Opera had a net margin of 39.22% and a return on equity of 19.22%. During the same quarter in the previous year, the company posted $0.34 earnings per share. Research analysts expect that Opera Limited will post 0.81 earnings per share for the current year.

Opera Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.