Opera Limited (NASDAQ:OPRA) Given Consensus Recommendation of "Buy" by Brokerages

Opera Limited (NASDAQ:OPRA - Get Free Report) has received a consensus recommendation of "Buy" from the five brokerages that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.90.

Several brokerages recently issued reports on OPRA. Piper Sandler began coverage on shares of Opera in a report on Wednesday, February 5th. They set an "overweight" rating and a $25.00 target price for the company. The Goldman Sachs Group dropped their target price on Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wall Street Zen upgraded Opera from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Finally, Lake Street Capital raised their target price on shares of Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th.

Opera Trading Down 1.3%

NASDAQ:OPRA traded down $0.24 during mid-day trading on Friday, hitting $17.92. 86,672 shares of the stock traded hands, compared to its average volume of 561,164. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 9.10 and a beta of 1.01. The firm's 50 day moving average is $16.42 and its two-hundred day moving average is $18.04. Opera has a 52 week low of $10.11 and a 52 week high of $22.50.

Opera (NASDAQ:OPRA - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, topping 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 analysts' expectations of $132.48 million. During the same quarter in the prior year, the company earned $0.34 EPS. On average, equities research analysts predict that Opera will post 0.81 earnings per share for the current year.

Institutional Trading of Opera

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPRA. US Bancorp DE grew its stake in shares of Opera by 2,065.1% in the fourth quarter. US Bancorp DE now owns 1,364 shares of the company's stock worth $26,000 after acquiring an additional 1,301 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Opera by 74.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company's stock valued at $30,000 after buying an additional 674 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Opera by 229.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company's stock valued at $42,000 after purchasing an additional 1,548 shares during the last quarter. Calton & Associates Inc. acquired a new stake in Opera during the first quarter worth approximately $51,000. Finally, Point72 Hong Kong Ltd boosted its position in Opera by 457.1% during the fourth quarter. Point72 Hong Kong Ltd now owns 3,900 shares of the company's stock worth $74,000 after acquiring an additional 3,200 shares during the last quarter. 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.