Analysts Set Opera Limited Sponsored ADR (NASDAQ:OPRA) PT at $22.75

Opera Limited Sponsored ADR (NASDAQ:OPRA) has received a consensus rating of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $22.75.

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Opera from $24.50 to $21.50 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Zacks Research upgraded Opera from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Wall Street Zen downgraded shares of Opera from a “buy” rating to a “hold” rating in a report on Sunday. TD Cowen restated a “buy” rating on shares of Opera in a report on Friday, March 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a research note on Friday, March 27th.

Opera Trading Up 2.1%

Opera stock traded up $0.37 during trading hours on Tuesday, hitting $17.87. 110,579 shares of the stock traded hands, compared to its average volume of 659,898. The company has a market cap of $1.61 billion, a PE ratio of 15.01 and a beta of 1.22. Opera has a one year low of $11.71 and a one year high of $21.06. The firm’s 50-day moving average price is $14.42 and its two-hundred day moving average price is $14.34.

Opera (NASDAQ:OPRA) last announced its earnings results on Saturday, February 14th. The company reported $0.30 earnings per share for the quarter. The business had revenue of $176.65 million during the quarter. Opera had a net margin of 17.61% and a return on equity of 8.00%. On average, sell-side analysts expect that Opera will post 1.1 earnings per share for the current fiscal year.

Institutional Trading of Opera

Several institutional investors have recently added to or reduced their stakes in OPRA. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Opera during the third quarter worth approximately $42,000. Huntington National Bank increased its position in shares of Opera by 37.8% during the third quarter. Huntington National Bank now owns 3,305 shares of the company’s stock worth $68,000 after acquiring an additional 906 shares during the period. State of Tennessee Department of Treasury purchased a new position in shares of Opera during the second quarter worth approximately $83,000. IFP Advisors Inc increased its position in shares of Opera by 127.0% during the third quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock worth $234,000 after acquiring an additional 6,350 shares during the period. Finally, Quent Capital LLC purchased a new position in Opera during the fourth quarter valued at approximately $212,000. Institutional investors own 10.21% of the company’s stock.

About Opera

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.