Opera (NASDAQ:OPRA) Upgraded at Zacks Research

Zacks Research upgraded shares of Opera (NASDAQ:OPRA) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on OPRA. Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a report on Monday, December 29th. The Goldman Sachs Group cut their target price on shares of Opera from $24.50 to $21.50 and set a “buy” rating on the stock in a report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.75.

Opera Stock Performance

OPRA opened at $14.46 on Tuesday. Opera has a one year low of $11.71 and a one year high of $21.06. The stock has a market capitalization of $1.30 billion, a P/E ratio of 12.15 and a beta of 1.13. The business’s 50-day simple moving average is $13.69 and its 200-day simple moving average is $15.07.

Opera (NASDAQ:OPRA) last announced its earnings results on Thursday, February 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The firm had revenue of $177.21 million during the quarter, compared to analyst estimates of $164.55 million. Opera had a net margin of 17.61% and a return on equity of 8.00%. On average, equities research analysts forecast that Opera will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Opera

A number of large investors have recently modified their holdings of the business. Harvey Capital Management Inc. boosted its position in Opera by 171.8% during the third quarter. Harvey Capital Management Inc. now owns 100,025 shares of the company’s stock worth $2,065,000 after purchasing an additional 63,225 shares in the last quarter. IFP Advisors Inc increased its position in shares of Opera by 127.0% in the third quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock valued at $234,000 after buying an additional 6,350 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Opera in the fourth quarter valued at $212,000. State of Tennessee Department of Treasury acquired a new position in shares of Opera during the 2nd quarter worth $83,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Opera by 305.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock worth $1,289,000 after buying an additional 68,549 shares in the last quarter. 10.21% of the stock is owned by hedge funds and other institutional investors.

Opera News Roundup

Here are the key news stories impacting Opera this week:

• Positive Sentiment: Zacks upgraded Opera from “hold” to “strong-buy,” signaling bullish analyst sentiment that could attract buyers. Zacks Upgrade
• Positive Sentiment: Zacks reports show earnings-estimate revisions moving higher for Opera, which typically precedes price appreciation as forecast upgrades raise investor expectations. Earnings Estimates Moving Higher for Opera Limited (OPRA)
• Positive Sentiment: A Zacks piece and related analyst commentary highlight a consensus price-target upside (reported ~76.9% potential), which can support momentum buying and higher expectations for OPRA. Wall Street Analysts Believe Opera Limited (OPRA) Could Rally 76.94%
• Neutral Sentiment: High-profile cultural coverage — including pieces about Timothée Chalamet, Andrea Bocelli, Doja Cat and reactions from celebrities and outlets — is driving attention to “opera” as a topic but is unlikely to have material impact on the tech company Opera’s fundamentals. Representative coverage: Andrea Bocelli on opera/ballet and inviting Chalamet. Andrea Bocelli Tells Timothée Chalamet Opera, Ballet and Filmmaking Draw From the ‘Same Source’
• Neutral Sentiment: Additional entertainment coverage (Doja Cat response, Bocelli invites Chalamet, Misty Copeland comments, Jeopardy roast) increases cultural mentions of “opera” but should be viewed as noise for OPRA investors. Example: Doja Cat response. Doja Cat responds after slamming Timothée Chalamet amid ballet & opera controversy
• Negative Sentiment: Operational/earnings drag: Opera reported quarterly EPS of $0.30, missing the consensus $0.33, which can trigger near-term selling despite revenue beating estimates; that miss helps explain downward pressure on the stock. OPRA stock page

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.