Opera (NASDAQ:OPRA) Stock Price Down 3.4%

Shares of Opera Limited (NASDAQ:OPRA) dropped 3.4% during trading on Friday . The stock traded as low as $14.23 and last traded at $14.31. Approximately 193,113 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 965,341 shares. The stock had previously closed at $14.82.

Analysts Set New Price Targets

OPRA has been the subject of several recent research reports. TD Cowen raised their price target on shares of Opera from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. TheStreet raised shares of Opera from a “c+” rating to a “b-” rating in a research report on Monday, March 4th.

Opera Trading Down 5.7 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 4.69. The business’s 50 day moving average price is $13.98 and its 200-day moving average price is $12.52. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 7.88 and a beta of 0.81.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, February 29th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $1.20. Opera had a net margin of 42.69% and a return on equity of 19.90%. The business had revenue of $113.00 million for the quarter, compared to analyst estimates of $112.20 million. Equities analysts forecast that Opera Limited will post 0.73 EPS for the current fiscal year.

Institutional Trading of Opera

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Opera by 4.2% during the second quarter. BlackRock Inc. now owns 22,006 shares of the company’s stock worth $437,000 after buying an additional 897 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Opera by 4.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 26,693 shares of the company’s stock valued at $301,000 after purchasing an additional 1,050 shares in the last quarter. Tucker Asset Management LLC lifted its holdings in shares of Opera by 25.1% in the third quarter. Tucker Asset Management LLC now owns 6,700 shares of the company’s stock valued at $76,000 after purchasing an additional 1,344 shares in the last quarter. Royal Bank of Canada purchased a new stake in shares of Opera in the second quarter valued at about $32,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Opera by 66.7% in the first quarter. JPMorgan Chase & Co. now owns 5,000 shares of the company’s stock valued at $30,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and Opera Touch; PC browsers, including Opera for Computers and Opera GX; Apex Football; Opera VPN Pro; and Opera News, an AI-powered personalized news discovery and aggregation service.