Opera Limited Sponsored ADR (NASDAQ:OPRA) Receives $21.50 Consensus Price Target from Analysts

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $21.50.

Several research analysts have recently issued reports on OPRA shares. Zacks Research cut shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. TD Cowen reissued a “buy” rating on shares of Opera in a report on Friday, March 13th. Weiss Ratings restated a “hold (c)” rating on shares of Opera in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded shares of Opera from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OPRA. IFP Advisors Inc lifted its position in Opera by 127.0% in 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. Quent Capital LLC purchased a new position in shares of Opera during the 4th quarter worth approximately $212,000. Caxton Associates LLP purchased a new position in shares of Opera during the 1st quarter worth approximately $270,000. Janney Montgomery Scott LLC grew its holdings in 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 acquiring an additional 68,549 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Opera by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock worth $2,453,000 after acquiring an additional 30,662 shares in the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

Opera Stock Up 1.5%

Shares of NASDAQ:OPRA opened at $17.87 on Wednesday. Opera has a fifty-two week low of $11.71 and a fifty-two week high of $21.06. The firm’s 50 day moving average price is $17.14 and its 200 day moving average price is $15.00. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 14.15 and a beta of 1.30.

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

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.