Opera (NASDAQ:OPRA) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Opera (NASDAQ:OPRA) from buy to hold, adding to a mixed analyst picture for the stock.
• Despite the downgrade, analyst sentiment remains moderately positive overall: Opera has three Buy ratings and two Hold ratings, with a consensus rating of Moderate Buy and an average price target of $21.50.
• Opera shares opened at $18.74, above both its 50-day and 200-day moving averages, while the company reported $0.30 EPS on $176.65 million in quarterly revenue and guided to 1.12 EPS for the current year.

Opera (NASDAQ:OPRA - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Other research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Opera in a report on Friday, March 27th. TD Cowen reissued a "buy" rating on shares of Opera in a report on Friday, March 13th. Zacks Research lowered shares of Opera from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, The Goldman Sachs Group reduced their price objective on shares of Opera from $24.50 to $21.50 and set a "buy" rating for the company in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Opera has a consensus rating of "Moderate Buy" and an average price target of $21.50.

Opera Price Performance

Shares of OPRA stock opened at $18.74 on Friday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 14.87 and a beta of 1.30. The company's fifty day simple moving average is $15.57 and its two-hundred day simple moving average is $14.41. Opera has a 1 year low of $11.71 and a 1 year high of $21.06.

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

Hedge Funds Weigh In On Opera

Institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in shares of Opera by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company's stock valued at $2,453,000 after acquiring an additional 30,662 shares during the last quarter. Harvey Capital Management Inc. increased its position in shares of Opera by 0.9% in the fourth quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company's stock worth $1,429,000 after purchasing an additional 925 shares during the last quarter. Janney Montgomery Scott LLC raised its stake 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 in the last quarter. Handelsbanken Fonder AB bought a new stake in Opera during the fourth quarter valued at approximately $355,000. Finally, Caxton Associates LLP bought a new stake in Opera during the first quarter valued at approximately $270,000. 10.21% of the stock is currently owned by institutional investors.

Opera Company Profile

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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