Opera Limited Sponsored ADR (NASDAQ:OPRA) Receives $21.50 Consensus PT from Brokerages

Opera Limited Sponsored ADR (NASDAQ:OPRA) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $21.50.

Several research firms have commented on OPRA. Wall Street Zen downgraded shares of Opera from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Zacks Research lowered Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of Opera in a report on Friday, March 27th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Opera in a report on Friday, March 13th.

Institutional Investors Weigh In On Opera

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in shares of Opera by 305.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock worth $1,289,000 after purchasing an additional 68,549 shares during the period. Harvey Capital Management Inc. lifted its stake in Opera by 171.8% in the third quarter. Harvey Capital Management Inc. now owns 100,025 shares of the company’s stock worth $2,065,000 after purchasing an additional 63,225 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Opera by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock valued at $2,453,000 after buying an additional 30,662 shares during the period. Handelsbanken Fonder AB bought a new position in shares of Opera during the fourth quarter valued at approximately $355,000. Finally, Caxton Associates LLP bought a new position in shares of Opera during the first quarter valued at approximately $270,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Stock Down 1.2%

NASDAQ OPRA traded down $0.21 during trading hours on Friday, reaching $17.89. The company’s stock had a trading volume of 348,073 shares, compared to its average volume of 620,908. Opera has a 1 year low of $11.71 and a 1 year high of $21.06. The firm’s 50-day moving average price is $15.96 and its 200-day moving average price is $14.52. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 14.20 and a beta of 1.30.

Opera (NASDAQ:OPRA) last released its earnings results on Saturday, February 14th. The company reported $0.30 EPS for the quarter. The firm had revenue of $176.65 million for the quarter. Opera had a net margin of 17.72% and a return on equity of 8.54%. Equities research analysts anticipate that Opera will post 1.12 EPS for the current fiscal year.

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.