Opera Limited Sponsored ADR (NASDAQ:OPRA) Given Consensus Rating of “Buy” by Analysts

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) have earned an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $22.75.

A number of analysts have recently issued reports on the stock. TD Cowen reissued a “buy” rating on shares of Opera in a research report on Friday, March 13th. Zacks Research raised shares of Opera from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group dropped their price objective on shares of Opera from $24.50 to $21.50 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Opera in a research report on Monday, December 29th.

Institutional Trading of Opera

A number of institutional investors have recently bought and sold shares of OPRA. Goldman Sachs Group Inc. increased its position in Opera by 24.9% in the 1st 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 last quarter. Harvey Capital Management Inc. raised its stake in shares of Opera by 0.9% during 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. Janney Montgomery Scott LLC lifted its holdings in shares of Opera by 305.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock valued at $1,289,000 after buying an additional 68,549 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Opera during the 4th quarter valued at about $355,000. Finally, Caxton Associates LLP bought a new stake in shares of Opera in the 1st quarter valued at approximately $270,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

Opera Stock Down 0.7%

OPRA opened at $13.62 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 11.44 and a beta of 1.13. Opera has a fifty-two week low of $11.71 and a fifty-two week high of $21.06. The company’s 50-day moving average price is $13.77 and its 200 day moving average price is $14.90.

Opera (NASDAQ:OPRA) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Opera had a return on equity of 8.00% and a net margin of 17.61%.The business had revenue of $177.21 million during the quarter, compared to analysts’ expectations of $164.55 million. Research analysts anticipate that Opera will post 0.81 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.