Opera Limited Sponsored ADR (NASDAQ:OPRA) Stock Has Average Target Price of $24.75 According to Brokerages

Key Points

• Opera has a “Moderate Buy” consensus from five analysts, with three buy ratings and two holds. The average 12-month price target is $24.75, implying upside from the reported $16.84 share price.
• Recent analyst changes were mixed: B. Riley raised its target to $28 and maintained a buy rating, while Wall Street Zen downgraded Opera to hold and Weiss Ratings reiterated a hold.
• Institutional ownership stands at 10.21%, with several investors adding new or expanded positions. Opera shares have traded between $11.71 and $20.78 over the past year, while the company has a market capitalization of about $1.5 billion.

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.75.

Several analysts have recently issued reports on OPRA shares. Weiss Ratings restated a "hold (c+)" rating on shares of Opera in a research report on Friday, October 2nd. B. Riley Financial lifted their price target on Opera from $27.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Finally, Wall Street Zen lowered Opera from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC lifted its holdings in Opera by 16.4% in the 2nd quarter. Squarepoint Ops LLC now owns 190,502 shares of the company's stock valued at $3,778,000 after acquiring an additional 26,787 shares during the last quarter. North Star Asset Management Inc. acquired a new position in shares of Opera in the 2nd quarter worth approximately $238,000. Engineers Gate Manager LP bought a new stake in shares of Opera in the 2nd quarter worth approximately $228,000. QRG Capital Management Inc. acquired a new stake in Opera during the second quarter valued at approximately $211,000. Finally, Ascentis Independent Advisors bought a new stake in Opera during the first quarter worth approximately $141,000. 10.21% of the stock is currently owned by institutional investors.

Opera Price Performance

Shares of Opera stock opened at $16.84 on Friday. Opera has a 1 year low of $11.71 and a 1 year high of $20.78. The business has a 50 day moving average price of $18.65 and a 200 day moving average price of $18.06. The company has a market capitalization of $1.50 billion, a P/E ratio of 12.12 and a beta of 1.28.

About Opera

Opera Limited NASDAQ: OPRA is a technology company that develops web browsers and digital content services for desktop and mobile users. Its flagship Opera browser is available across major operating systems and emphasizes features such as integrated privacy tools, customizable interfaces, built-in messaging and productivity capabilities, and data-saving functionality.

The company also offers Opera GX, a browser designed for gamers and gaming enthusiasts, and Opera Mini, a mobile browser focused on efficient browsing and reduced data usage.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.