Opera (NASDAQ:OPRA) Shares Gap Up – Still a Buy?

Opera Limited (NASDAQ:OPRA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $17.87, but opened at $18.32. Opera shares last traded at $18.12, with a volume of 110,592 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OPRA. Wall Street Zen upgraded shares of Opera from a “hold” rating to a “buy” rating in a report on Saturday. The Goldman Sachs Group dropped their price objective on shares of Opera from $26.00 to $22.50 and set a “buy” rating on the stock in a report on Monday, April 14th. Lake Street Capital lifted their target price on shares of 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 began coverage on shares of Opera in a research report on Wednesday, February 5th. They set 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, the company presently has a consensus rating of “Buy” and a consensus target price of $24.90.

Opera Price Performance

The stock’s 50-day moving average price is $16.41 and its 200-day moving average price is $18.04. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 9.24 and a beta of 1.01. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Opera had a net margin of 39.22% and a return on equity of 19.22%. The business had revenue of $142.72 million for the quarter, compared to analyst estimates of $132.48 million. During the same period in the prior year, the business posted $0.34 earnings per share. Equities research analysts anticipate that Opera Limited will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Opera

Several large investors have recently bought and sold shares of OPRA. Handelsbanken Fonder AB increased its position in shares of Opera by 2.8% during the fourth quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock worth $415,000 after acquiring an additional 600 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Opera by 74.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after acquiring an additional 674 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Opera by 26.5% during the 4th quarter. Signaturefd LLC now owns 5,406 shares of the company’s stock worth $102,000 after buying an additional 1,134 shares during the last quarter. US Bancorp DE lifted its stake in shares of Opera by 2,065.1% during the 4th quarter. US Bancorp DE now owns 1,364 shares of the company’s stock worth $26,000 after buying an additional 1,301 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Opera by 5.4% in the 1st quarter. Cetera Investment Advisers now owns 30,116 shares of the company’s stock worth $480,000 after purchasing an additional 1,535 shares in the last quarter. Institutional investors own 10.21% of the company’s stock.

Opera Company 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.