Opera Limited Sponsored ADR (NASDAQ:OPRA) Given Average Rating of “Buy” by Analysts

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) have been given a consensus rating of “Buy” by the six brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.75.

OPRA has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of Opera from $24.50 to $21.50 and set a “buy” rating for the company in a report on Tuesday, January 13th. Zacks Research upgraded shares of Opera from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Opera in a research note on Monday, December 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Opera in a report on Friday, March 13th.

Opera Price Performance

Shares of OPRA opened at $14.96 on Friday. Opera has a 1-year low of $11.71 and a 1-year high of $21.06. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 12.57 and a beta of 1.13. The firm has a 50 day simple moving average of $13.72 and a 200-day simple moving average of $15.01.

Opera (NASDAQ:OPRA) last posted 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 company had revenue of $177.21 million during the quarter, compared to analysts’ expectations of $164.55 million. Opera had a net margin of 17.61% and a return on equity of 8.00%. On average, equities analysts expect that Opera will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Opera

Several institutional investors have recently added to or reduced their stakes in OPRA. Harvey Capital Management Inc. grew its holdings in Opera by 0.9% in the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock valued at $1,429,000 after buying an additional 925 shares during the period. Janney Montgomery Scott LLC grew its holdings in Opera by 305.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock valued at $1,289,000 after purchasing an additional 68,549 shares during the period. Handelsbanken Fonder AB purchased a new stake in Opera in the fourth quarter valued at approximately $355,000. Quent Capital LLC acquired a new position in Opera during the fourth quarter worth approximately $212,000. Finally, IFP Advisors Inc increased its position in Opera by 127.0% during the third quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock worth $234,000 after purchasing an additional 6,350 shares during the last quarter. 10.21% of the stock is currently owned by institutional investors and hedge funds.

About Opera

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.