Opera (NASDAQ:OPRA) Stock Price Down 6.3%

Shares of Opera Limited (NASDAQ:OPRA) were down 6.3% during mid-day trading on Friday . The stock traded as low as $15.36 and last traded at $15.42. Approximately 636,135 shares were traded during trading, a decline of 36% from the average daily volume of 988,121 shares. The stock had previously closed at $16.45.

Analysts Set New Price Targets

Several equities research analysts have issued reports on OPRA shares. TD Cowen raised their target price on Opera from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. TheStreet raised Opera from a “c+” rating to a “b-” rating in a research note on Monday, March 4th.

Opera Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 4.69. The stock has a 50 day moving average price of $13.76 and a two-hundred day moving average price of $12.49. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 8.06 and a beta of 0.81.

Opera (NASDAQ:OPRA) last issued its quarterly earnings data on Thursday, February 29th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $1.20. Opera had a return on equity of 19.90% and a net margin of 42.69%. The business had revenue of $113.00 million during the quarter, compared to analysts’ expectations of $112.20 million. As a group, analysts expect that Opera Limited will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new position in Opera in the third quarter valued at $29,000. JPMorgan Chase & Co. boosted its holdings in Opera by 66.7% in the first quarter. JPMorgan Chase & Co. now owns 5,000 shares of the company’s stock valued at $30,000 after purchasing an additional 2,000 shares during the period. Royal Bank of Canada purchased a new stake in Opera during the 2nd quarter worth about $32,000. State of Tennessee Treasury Department purchased a new stake in Opera during the 1st quarter worth about $35,000. Finally, Tucker Asset Management LLC lifted its holdings in Opera by 25.1% during the 3rd quarter. Tucker Asset Management LLC now owns 6,700 shares of the company’s stock worth $76,000 after buying an additional 1,344 shares during the last quarter. 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. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and 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.