Lake Street Capital Raises Opera (NASDAQ:OPRA) Price Target to $12.00

Opera (NASDAQ:OPRA) had its price target increased by equities researchers at Lake Street Capital from $11.00 to $12.00 in a report released on Friday, The Fly reports. Lake Street Capital’s price objective would suggest a potential upside of 37.61% from the stock’s previous close.

Several other research firms also recently commented on OPRA. Zacks Investment Research upgraded shares of Opera from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Citigroup upped their price target on shares of Opera from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, BidaskClub downgraded shares of Opera from a “hold” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Opera currently has an average rating of “Hold” and a consensus price target of $11.05.

Shares of NASDAQ:OPRA traded down $0.44 on Friday, hitting $8.72. The company had a trading volume of 9,933 shares, compared to its average volume of 386,809. Opera has a 1-year low of $4.60 and a 1-year high of $11.49. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 21.73 and a beta of 1.33. The stock has a 50 day moving average price of $9.34 and a 200 day moving average price of $8.58.

Opera (NASDAQ:OPRA) last released its quarterly earnings data on Wednesday, November 18th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.23). Opera had a net margin of 11.12% and a return on equity of 6.01%. On average, equities analysts predict that Opera will post 0.17 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of OPRA. UBS Group AG bought a new stake in Opera during the second quarter worth about $28,000. JPMorgan Chase & Co. bought a new stake in Opera during the third quarter worth about $33,000. BlackRock Inc. bought a new stake in Opera during the third quarter worth about $84,000. Bank of America Corp DE lifted its position in Opera by 350.0% during the second quarter. Bank of America Corp DE now owns 9,562 shares of the company’s stock worth $86,000 after purchasing an additional 7,437 shares during the period. Finally, BNP Paribas Arbitrage SA bought a new stake in Opera during the third quarter worth about $99,000. 7.76% of the stock is owned by institutional investors and hedge funds.

About Opera

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. The company offers mobile browser products, such as Opera Mini, Opera for Android, and Opera Touch; PC browsers, including Opera for Computers and Opera GX; Opera News, a personalized news aggregation app; and Okash, a microfinance app.

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