Opera (NASDAQ:OPRA) Trading 2.8% Higher – Time to Buy?

Opera Limited Sponsored ADR (NASDAQ:OPRA) shares were up 2.8% during mid-day trading on Monday . The stock traded as high as $19.38 and last traded at $19.31. Approximately 642,677 shares traded hands during trading, an increase of 79% from the average daily volume of 358,498 shares. The stock had previously closed at $18.78.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Opera from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a research report on Friday, March 27th. Zacks Research cut Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Opera in a research report on Friday, March 13th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Opera Stock Down 3.2%

The firm’s 50 day moving average price is $16.61 and its two-hundred day moving average price is $14.79. The firm has a market capitalization of $1.65 billion, a PE ratio of 14.60 and a beta of 1.30.

Opera (NASDAQ:OPRA) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.30 EPS for the quarter. Opera had a net margin of 17.72% and a return on equity of 8.54%. The firm had revenue of $176.65 million for the quarter. On average, sell-side analysts anticipate that Opera Limited Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Opera

A number of institutional investors have recently made changes to their positions in the business. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Opera during the 3rd quarter valued at approximately $42,000. Parallel Advisors LLC raised its holdings in Opera by 459.5% in the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock valued at $43,000 after acquiring an additional 2,495 shares in the last quarter. Huntington National Bank boosted its stake in Opera by 37.8% during the 3rd quarter. Huntington National Bank now owns 3,305 shares of the company’s stock valued at $68,000 after acquiring an additional 906 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in Opera during the 2nd quarter valued at $83,000. Finally, Ascentis Independent Advisors acquired a new position in Opera during the 1st quarter worth $141,000. 10.21% of the stock is owned by institutional investors and hedge funds.

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.