The Goldman Sachs Group Raises Opera (NASDAQ:OPRA) Price Target to $23.00

Opera (NASDAQ:OPRA) had its price objective boosted by The Goldman Sachs Group from $19.50 to $23.00 in a research note released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Separately, B. Riley increased their price target on Opera from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $24.75.

Opera Price Performance

OPRA stock opened at $18.71 on Wednesday. The company has a 50 day simple moving average of $15.03 and a 200 day simple moving average of $13.96. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 9.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.51 and a quick ratio of 2.51. Opera has a 1 year low of $10.11 and a 1 year high of $19.69.

Opera (NASDAQ:OPRA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Opera had a return on equity of 19.59% and a net margin of 40.85%. The firm had revenue of $109.73 million for the quarter, compared to analyst estimates of $108.65 million. During the same quarter in the previous year, the company posted $0.15 EPS. Research analysts anticipate that Opera will post 0.88 EPS for the current fiscal year.

Institutional Trading of Opera

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Opera by 135.4% during the third quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock worth $32,000 after acquiring an additional 1,186 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Opera by 334.7% in the third quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after purchasing an additional 3,216 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Opera by 248.8% in the first quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock valued at $97,000 after purchasing an additional 4,364 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Opera by 1,474.9% in the second quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock valued at $112,000 after purchasing an additional 7,640 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Opera during the second quarter valued at approximately $112,000. 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 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.