Opera (NASDAQ:OPRA) Raised to “Buy” at Wall Street Zen

Opera (NASDAQ:OPRA) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

OPRA has been the topic of several other reports. TD Cowen restated a “buy” rating on shares of Opera in a research report on Friday, March 13th. Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a research note on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.50.

Opera Stock Performance

Shares of NASDAQ OPRA opened at $18.52 on Friday. Opera has a one year low of $11.71 and a one year high of $21.06. The firm has a market capitalization of $1.66 billion, a P/E ratio of 14.70 and a beta of 1.30. The company’s fifty day moving average is $17.74 and its two-hundred day moving average is $15.28.

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

Institutional Investors Weigh In On Opera

A number of hedge funds and other institutional investors have recently modified their holdings of OPRA. Goldman Sachs Group Inc. raised its holdings in Opera by 24.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock valued at $2,453,000 after acquiring an additional 30,662 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Opera during the first quarter worth $270,000. State of Tennessee Department of Treasury acquired a new stake in shares of Opera during the second quarter worth $83,000. Huntington National Bank grew its position in shares of Opera by 37.8% in the third quarter. Huntington National Bank now owns 3,305 shares of the company’s stock valued at $68,000 after purchasing an additional 906 shares during the period. Finally, Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Opera in the third quarter valued at $42,000. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

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.