Opera (NASDAQ:OPRA) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Opera (NASDAQ:OPRA) from a "hold" to a buy rating in a research note issued Saturday.
• Analysts have an overall Buy consensus with a consensus target price of $22.75 (one Strong Buy, four Buy, one Hold); notable moves include Goldman lowering its target to $21.50 and Zacks upgrading to Strong-Buy.
• Opera trades around $14.75 with a market cap of $1.33 billion and a P/E of 12.39; last quarter it reported $0.30 EPS on $176.65 million in revenue and analysts expect about $0.81 EPS for the current year.

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

A number of other research analysts also recently commented on OPRA. Weiss Ratings reissued a "hold (c)" rating on shares of Opera in a research report on Friday, March 27th. TD Cowen reiterated a "buy" rating on shares of Opera in a research note on Friday, March 13th. The Goldman Sachs Group reduced their price target on shares of Opera from $24.50 to $21.50 and set a "buy" rating for the company in a research report on Tuesday, January 13th. Finally, Zacks Research raised shares of Opera from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Opera has an average rating of "Buy" and a consensus target price of $22.75.

Opera Price Performance

OPRA opened at $14.75 on Friday. The firm has a market cap of $1.33 billion, a P/E ratio of 12.39 and a beta of 1.22. Opera has a 1-year low of $11.71 and a 1-year high of $21.06. The company has a 50 day simple moving average of $13.99 and a two-hundred day simple moving average of $14.53.

Opera (NASDAQ:OPRA - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.30 earnings per share for the quarter. The business had revenue of $176.65 million during the quarter. Opera had a net margin of 17.61% and a return on equity of 8.00%. Equities analysts anticipate that Opera will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Opera

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPRA. Foster Dykema Cabot & Partners LLC acquired a new stake in Opera during the 3rd quarter worth $42,000. Huntington National Bank lifted its position in Opera by 37.8% in the third quarter. Huntington National Bank now owns 3,305 shares of the company's stock valued at $68,000 after buying an additional 906 shares during the last quarter. State of Tennessee Department of Treasury acquired a new position in Opera in the second quarter valued at about $83,000. Quent Capital LLC acquired a new position in Opera in the fourth quarter valued at about $212,000. Finally, IFP Advisors Inc boosted its stake in shares of Opera by 127.0% in the third quarter. IFP Advisors Inc now owns 11,350 shares of the company's stock valued at $234,000 after purchasing an additional 6,350 shares during the period. Institutional investors and hedge funds own 10.21% of the company's stock.

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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