Opera (NASDAQ:OPRA) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Opera (NASDAQ:OPRA) from a hold rating to a buy rating in a report issued on Saturday.

Several other equities analysts also recently weighed in on OPRA. The Goldman Sachs Group decreased their target price on Opera from $26.00 to $22.50 and set a “buy” rating on the stock in a research report on Monday, April 14th. Lake Street Capital raised their target price on Opera from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Finally, Piper Sandler assumed coverage on Opera in a research report on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Opera presently has a consensus rating of “Buy” and an average target price of $24.90.

Opera Stock Performance

Shares of OPRA stock opened at $17.37 on Friday. The company has a market capitalization of $1.54 billion, a P/E ratio of 8.82 and a beta of 1.01. The business’s 50 day moving average is $16.43 and its two-hundred day moving average is $18.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Opera has a 12-month low of $10.11 and a 12-month high of $22.50.

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

Hedge Funds Weigh In On Opera

A number of institutional investors have recently added to or reduced their stakes in OPRA. Marshall Wace LLP lifted its position in Opera by 99.7% during 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 in the last quarter. Driehaus Capital Management LLC purchased a new position in Opera during the fourth quarter worth approximately $10,646,000. Tidal Investments LLC lifted its position in Opera by 75.6% during the fourth quarter. Tidal Investments LLC now owns 1,176,565 shares of the company’s stock worth $22,284,000 after buying an additional 506,425 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Opera during the fourth quarter worth approximately $7,535,000. Finally, Bank of New York Mellon Corp purchased a new position in Opera during the fourth quarter worth approximately $1,985,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

About Opera

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.