Zacks Research Upgrades Opera (NASDAQ:OPRA) to Hold

Opera (NASDAQ:OPRA) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Opera in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

Opera Trading Down 1.4%

Shares of OPRA opened at $14.33 on Monday. Opera has a 1-year low of $12.62 and a 1-year high of $22.50. The firm’s 50-day moving average price is $14.06 and its 200-day moving average price is $16.47. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.92 and a beta of 1.25.

Hedge Funds Weigh In On Opera

Several large investors have recently made changes to their positions in OPRA. Huntington National Bank boosted its position in shares of Opera by 37.8% in the 3rd quarter. Huntington National Bank now owns 3,305 shares of the company’s stock worth $68,000 after purchasing an additional 906 shares in the last quarter. GAMMA Investing LLC increased its position in Opera by 46.7% during the 2nd quarter. GAMMA Investing LLC now owns 4,016 shares of the company’s stock valued at $76,000 after buying an additional 1,279 shares in the last quarter. American Trust Investment Advisors LLC raised its stake in 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 buying an additional 1,683 shares during the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Opera during the third quarter valued at $42,000. Finally, State of Tennessee Department of Treasury bought a new stake in Opera in the second quarter worth $83,000. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Opera Company Profile

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.