Opera (NASDAQ:OPRA) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Opera (NASDAQ:OPRA) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on OPRA. Wall Street Zen downgraded Opera from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Opera in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

Opera Stock Up 1.6%

Opera stock opened at $13.09 on Wednesday. Opera has a 52-week low of $12.77 and a 52-week high of $22.50. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 14.54 and a beta of 1.08. The firm’s fifty day moving average is $16.41 and its 200 day moving average is $17.30.

Opera (NASDAQ:OPRA) last posted its earnings results on Tuesday, August 19th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Opera had a return on equity of 8.91% and a net margin of 13.93%.The business had revenue of $142.96 million during the quarter, compared to the consensus estimate of $137.44 million. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities research analysts anticipate that Opera will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Opera

Several hedge funds and other institutional investors have recently modified their holdings of the business. Driehaus Capital Management LLC boosted its holdings in Opera by 14.4% during the 1st quarter. Driehaus Capital Management LLC now owns 642,965 shares of the company’s stock valued at $10,249,000 after acquiring an additional 80,866 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Opera by 2.1% during the first quarter. Lord Abbett & CO. LLC now owns 406,158 shares of the company’s stock worth $6,474,000 after purchasing an additional 8,305 shares during the last quarter. Credit Agricole S A lifted its position in shares of Opera by 29.0% during the first quarter. Credit Agricole S A now owns 231,523 shares of the company’s stock worth $3,690,000 after purchasing an additional 52,020 shares during the last quarter. American Trust Investment Advisors LLC boosted its stake in shares of Opera by 0.9% during the first quarter. American Trust Investment Advisors LLC now owns 181,560 shares of the company’s stock valued at $2,894,000 after purchasing an additional 1,683 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Opera by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock worth $2,453,000 after purchasing an additional 30,662 shares during the last quarter. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

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.