Opera Limited Sponsored ADR (NASDAQ:OPRA) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Opera Limited has a consensus analyst rating of “Moderate Buy” from five brokerages, with three buy ratings and two hold ratings. The average 1-year price target is $21.50.
• Recent analyst actions were mixed: Wall Street Zen upgraded the stock to buy, while Zacks Research downgraded it to hold. Goldman Sachs also kept a buy rating but cut its price target from $24.50 to $21.50.
• Opera reported $0.30 EPS and $176.65 million in quarterly revenue in its latest earnings release. The stock opened at $18.74, near its 1-year high of $21.06, and the company has a market cap of about $1.68 billion.

Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.50.

A number of brokerages recently issued reports on OPRA. Wall Street Zen upgraded Opera from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. The Goldman Sachs Group dropped their price target on Opera from $24.50 to $21.50 and set a "buy" rating on the stock in a research note on Tuesday, January 13th. Zacks Research cut Opera from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Opera in a report on Friday, March 27th. Finally, TD Cowen reiterated a "buy" rating on shares of Opera in a research report on Friday, March 13th.

Opera Price Performance

NASDAQ:OPRA opened at $18.74 on Friday. Opera has a 1-year low of $11.71 and a 1-year high of $21.06. The company has a 50-day moving average of $15.57 and a 200 day moving average of $14.41. The firm has a market cap of $1.68 billion, a PE ratio of 14.87 and a beta of 1.30.

Opera (NASDAQ:OPRA - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.30 EPS for the quarter. The firm had revenue of $176.65 million during the quarter. Opera had a return on equity of 8.54% and a net margin of 17.72%. Sell-side analysts anticipate that Opera will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in Opera by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company's stock valued at $2,453,000 after buying an additional 30,662 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Opera during the 1st quarter worth about $270,000. State of Tennessee Department of Treasury acquired a new stake in shares of Opera during the 2nd quarter valued at about $83,000. Harvey Capital Management Inc. increased its stake in shares of Opera by 171.8% in the 3rd quarter. Harvey Capital Management Inc. now owns 100,025 shares of the company's stock valued at $2,065,000 after purchasing an additional 63,225 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of Opera by 37.8% in the 3rd quarter. Huntington National Bank now owns 3,305 shares of the company's stock valued at $68,000 after purchasing an additional 906 shares in the last quarter. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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