Opera (NASDAQ:OPRA) Upgraded by Wall Street Zen to “Buy” Rating

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

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group dropped their price objective on shares of Opera from $26.00 to $22.50 and set a “buy” rating for the company in a research note on Monday, April 14th. Piper Sandler began coverage on shares of Opera in a research note on Wednesday, February 5th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, Lake Street Capital upped their price objective on shares of Opera from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $24.90.

Opera Trading Down 2.6%

NASDAQ:OPRA opened at $17.37 on Friday. The stock has a fifty day simple moving average of $16.43 and a 200-day simple moving average of $18.04. Opera has a 52-week low of $10.11 and a 52-week high of $22.50. The company has a market capitalization of $1.54 billion, a PE ratio of 8.82 and a beta of 1.01. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last announced its earnings results on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Opera had a net margin of 39.22% and a return on equity of 19.22%. The firm had revenue of $142.72 million during the quarter, compared to the consensus estimate of $132.48 million. During the same quarter in the previous year, the company posted $0.34 EPS. On average, equities research analysts expect that Opera will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Opera

A number of institutional investors have recently modified their holdings of the company. Caxton Associates LLP purchased a new stake in shares of Opera during the 1st quarter worth about $270,000. Goldman Sachs Group Inc. boosted 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 worth $2,453,000 after acquiring an additional 30,662 shares during the period. American Trust Investment Advisors LLC boosted its holdings in Opera by 0.9% in the 1st quarter. American Trust Investment Advisors LLC now owns 181,560 shares of the company’s stock worth $2,894,000 after acquiring an additional 1,683 shares during the period. Caption Management LLC purchased a new position in Opera in the 1st quarter worth approximately $147,000. Finally, Calton & Associates Inc. purchased a new position in Opera in the 1st quarter worth approximately $210,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

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.