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

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) have been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $21.50.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Harvey Capital Management Inc. increased its holdings in shares of Opera by 0.9% during the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after buying an additional 925 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Opera by 305.1% in the fourth 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 in the last quarter. Caxton Associates LLP acquired a new position in Opera in the first quarter worth about $270,000. State of Tennessee Department of Treasury acquired a new position in Opera in the second quarter valued at approximately $83,000. Finally, Parallel Advisors LLC boosted its stake 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 during the period. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Stock Performance

Shares of Opera stock opened at $18.17 on Wednesday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 14.42 and a beta of 1.30. Opera has a fifty-two week low of $11.71 and a fifty-two week high of $21.06. The stock has a 50 day moving average of $16.97 and a 200 day moving average of $14.92.

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