Opera Limited (NASDAQ:OPRA) Receives Average Rating of “Buy” from Analysts

Shares of Opera Limited (NASDAQ:OPRA) have received a consensus recommendation of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $24.90.

Several analysts recently weighed in on the stock. Lake Street Capital raised their target price on shares of Opera from $23.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen raised shares of Opera from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler began coverage on Opera in a report on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 target price on the stock. Finally, The Goldman Sachs Group decreased their price target on Opera from $26.00 to $22.50 and set a “buy” rating for the company in a report on Monday, April 14th.

Opera Trading Down 2.6%

Shares of OPRA stock opened at $17.37 on Friday. The company has a 50-day moving average of $16.43 and a two-hundred day moving average of $18.04. The firm has a market cap of $1.54 billion, a PE ratio of 8.82 and a beta of 1.01. Opera has a 1-year low of $10.11 and a 1-year high of $22.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $142.72 million for the quarter, compared to analyst estimates of $132.48 million. Opera had a net margin of 39.22% and a return on equity of 19.22%. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, analysts predict that Opera will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OPRA. Marshall Wace LLP lifted its holdings in shares of Opera by 99.7% during the fourth quarter. Marshall Wace LLP now owns 1,460,201 shares of the company’s stock worth $27,656,000 after purchasing an additional 729,001 shares during the period. Tidal Investments LLC raised its holdings in Opera by 75.6% during the fourth quarter. Tidal Investments LLC now owns 1,176,565 shares of the company’s stock worth $22,284,000 after purchasing an additional 506,425 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Opera by 7.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company’s stock valued at $17,644,000 after purchasing an additional 61,051 shares during the period. Portolan Capital Management LLC boosted its holdings in Opera by 5.1% in the 4th quarter. Portolan Capital Management LLC now owns 748,349 shares of the company’s stock valued at $14,174,000 after purchasing an additional 36,529 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its position in Opera by 14.4% during the 1st quarter. Driehaus Capital Management LLC now owns 642,965 shares of the company’s stock worth $10,249,000 after purchasing an additional 80,866 shares during the period. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.