Opera (NASDAQ:OPRA) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Opera (NASDAQ:OPRA) from a "hold" to a buy, representing the latest positive analyst action on the stock.
• The stock has a consensus rating of Moderate Buy with an average analyst price target of $21.50 (three Buys, two Holds).
• Opera reported quarterly EPS of $0.30 on revenue of $176.7M, and shares were trading near $18.53 with a market cap of about $1.67B.

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

Other equities research analysts also recently issued reports about the stock. Zacks Research downgraded shares of Opera from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. The Goldman Sachs Group dropped their price target 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. TD Cowen reissued a "buy" rating on shares of Opera in a research note on Friday, March 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Opera in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.50.

Opera Trading Up 4.4%

Shares of NASDAQ OPRA opened at $18.53 on Friday. Opera has a 1-year low of $11.71 and a 1-year high of $21.06. The company has a market cap of $1.67 billion, a PE ratio of 14.71 and a beta of 1.30. The company has a 50-day moving average of $15.18 and a two-hundred day moving average of $14.39.

Opera (NASDAQ:OPRA - Get Free Report) last announced its earnings results on Saturday, February 14th. The company reported $0.30 earnings per share for the quarter. Opera had a net margin of 17.72% and a return on equity of 8.54%. The company had revenue of $176.65 million during the quarter. As a group, equities research analysts forecast that Opera will post 1.1 earnings per share for the current year.

Institutional Investors Weigh In On Opera

A number of institutional investors and hedge funds have recently modified their holdings of OPRA. Foster Dykema Cabot & Partners LLC acquired a new position in Opera during the third quarter valued at approximately $42,000. Huntington National Bank grew its holdings in Opera by 37.8% during the third quarter. Huntington National Bank now owns 3,305 shares of the company's stock valued at $68,000 after purchasing an additional 906 shares during the period. State of Tennessee Department of Treasury acquired a new position in Opera during the second quarter valued at approximately $83,000. Ascentis Independent Advisors acquired a new position in Opera during the first quarter valued at approximately $141,000. Finally, IFP Advisors Inc grew its holdings in Opera by 127.0% during 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. 10.21% of the stock is owned by 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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