Brokerages Set Opera Limited Sponsored ADR (NASDAQ:OPRA) PT at $21.50

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $21.50.

A number of equities research analysts have recently commented on OPRA shares. The Goldman Sachs Group lowered their target price on Opera from $24.50 to $21.50 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a report on Friday, March 27th. Wall Street Zen lowered Opera from a “buy” rating to a “hold” rating in a research note on Sunday. TD Cowen reissued a “buy” rating on shares of Opera in a report on Friday, March 13th. Finally, Zacks Research downgraded Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th.

Hedge Funds Weigh In On Opera

A number of large investors have recently modified their holdings of OPRA. Huntington National Bank grew its stake 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 acquiring an additional 906 shares in the last quarter. Harvey Capital Management Inc. lifted its stake in Opera by 0.9% in the 4th 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 in the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in Opera in the 3rd quarter valued at $42,000. Parallel Advisors LLC grew its position in shares of Opera by 459.5% during the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock valued at $43,000 after purchasing an additional 2,495 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Opera during the 2nd quarter valued at $83,000. 10.21% of the stock is currently owned by institutional investors.

Opera Stock Performance

NASDAQ:OPRA opened at $18.25 on Friday. Opera has a 52 week low of $11.71 and a 52 week high of $21.06. The firm has a 50-day moving average price of $15.76 and a two-hundred day moving average price of $14.44. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 14.48 and a beta of 1.30.

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

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.