Opera Limited Sponsored ADR (NASDAQ:OPRA) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Opera a “Moderate Buy” consensus: Three of five covering firms recommend buying the stock, while two rate it a hold. The average 12-month price target is $24.75, above the reported $18.30 share price.
• Recent analyst views are mixed: B. Riley raised its price target to $28 and maintained a buy rating, while Wall Street Zen downgraded Opera to hold; Weiss Ratings reiterated a hold.
• Opera shares remain below their annual high: The stock has traded between $11.71 and $21.06 over the past year, with a market capitalization of approximately $1.63 billion. CEO Lin Song also sold 44,400 shares, reducing his position by 26.87%.

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $24.75.

A number of brokerages recently weighed in on OPRA. Weiss Ratings reissued a "hold (c+)" rating on shares of Opera in a research note on Wednesday, July 8th. B. Riley Financial upped their price objective on shares of Opera from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Finally, Wall Street Zen downgraded Opera from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd.

Insider Activity at Opera

In other news, CEO Lin Song sold 44,400 shares of Opera stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $18.52, for a total transaction of $822,288.00. Following the sale, the chief executive officer owned 120,846 shares of the company's stock, valued at approximately $2,238,067.92. This trade represents a 26.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 84.36% of the company's stock.

Hedge Funds Weigh In On Opera

Hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Opera during the 2nd quarter valued at about $40,000. Parallel Advisors LLC raised its position in Opera by 459.5% in the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company's stock worth $43,000 after purchasing an additional 2,495 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in Opera during the second quarter worth about $83,000. GAMMA Investing LLC lifted its stake in Opera by 10.4% during the second quarter. GAMMA Investing LLC now owns 6,904 shares of the company's stock worth $137,000 after purchasing an additional 652 shares during the period. Finally, Ascentis Independent Advisors bought a new position in Opera during the first quarter worth about $141,000. Institutional investors and hedge funds own 10.21% of the company's stock.

Opera Stock Performance

Shares of NASDAQ:OPRA opened at $18.30 on Monday. The stock has a market capitalization of $1.63 billion, a PE ratio of 13.17 and a beta of 1.31. Opera has a 1 year low of $11.71 and a 1 year high of $21.06. The firm has a fifty day moving average price of $19.23 and a 200 day moving average price of $17.66.

About Opera

Opera Limited is a technology company that develops web browsers and related digital services for desktop and mobile users. Its products include the Opera browser, Opera One, Opera GX, which is designed for gamers, and Opera Mini, a mobile browser focused on efficient data use and performance on a range of devices.

The company also provides browser-based features and services such as advertising solutions, personalized content, news products and artificial intelligence tools, including the Aria browser AI.

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