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

Wall Street Zen lowered shares of Opera (NASDAQ:OPRA) from a buy rating to a hold rating in a report issued on Sunday.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Opera in a research note on Friday, March 27th. Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. TD Cowen reiterated a “buy” rating on shares of Opera in a research note on Friday, March 13th. Finally, The Goldman Sachs Group decreased 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Opera Stock Performance

Shares of OPRA stock opened at $18.74 on Friday. Opera has a one year low of $11.71 and a one year high of $21.06. The company has a 50 day moving average price of $15.57 and a 200 day moving average price of $14.41. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 14.87 and a beta of 1.30.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.30 EPS for the quarter. Opera had a net margin of 17.72% and a return on equity of 8.54%. The firm had revenue of $176.65 million during the quarter. As a group, equities analysts forecast that Opera will post 1.12 EPS for the current fiscal year.

Institutional Trading of Opera

Several institutional investors have recently added to or reduced their stakes in OPRA. Goldman Sachs Group Inc. raised its holdings in shares of Opera by 24.9% during the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock worth $2,453,000 after purchasing an additional 30,662 shares during the period. Harvey Capital Management Inc. raised its holdings in shares of Opera by 0.9% during 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 period. Janney Montgomery Scott LLC raised its holdings in shares of Opera by 305.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock worth $1,289,000 after purchasing an additional 68,549 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of Opera during the fourth quarter worth $355,000. Finally, Caxton Associates LLP acquired a new stake in shares of Opera during the first quarter worth $270,000. 10.21% of the stock is owned by institutional investors and hedge funds.

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.