Opera’s (OPRA) “Buy” Rating Reaffirmed at B. Riley

B. Riley reissued their buy rating on shares of Opera (NASDAQ:OPRA) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $25.00 target price on the stock, up from their previous target price of $24.00.

Separately, The Goldman Sachs Group lifted their price target on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Opera currently has an average rating of “Buy” and an average target price of $24.75.

Opera Stock Down 0.1 %

Shares of OPRA stock opened at $17.96 on Wednesday. The stock’s fifty day moving average price is $15.25 and its 200 day moving average price is $14.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.51. Opera has a 1-year low of $10.11 and a 1-year high of $19.69. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 9.12 and a beta of 1.02.

Opera (NASDAQ:OPRA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $109.73 million for the quarter, compared to the consensus estimate of $108.65 million. Opera had a net margin of 39.22% and a return on equity of 19.22%. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, research analysts expect that Opera will post 0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Richard P Slaughter Associates Inc raised its stake in shares of Opera by 1.8% during the 2nd quarter. Richard P Slaughter Associates Inc now owns 199,777 shares of the company’s stock valued at $2,805,000 after buying an additional 3,496 shares during the last quarter. Harvey Capital Management Inc. purchased a new position in Opera during the third quarter valued at approximately $2,420,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Opera by 5.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company’s stock valued at $1,360,000 after acquiring an additional 4,274 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Opera by 2.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 85,761 shares of the company’s stock worth $1,356,000 after purchasing an additional 1,804 shares in the last quarter. Finally, Caxton Associates LP grew its stake in shares of Opera by 103.5% during the 1st quarter. Caxton Associates LP now owns 72,629 shares of the company’s stock worth $1,148,000 after purchasing an additional 36,931 shares during the period. 10.21% of the stock is currently owned by institutional investors and hedge funds.

About Opera

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; 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.