Opera’s (OPRA) Buy Rating Reiterated at B. Riley

B. Riley restated their buy rating on shares of Opera (NASDAQ:OPRA) in a report released on Wednesday morning, Benzinga reports. They currently have a $25.00 target price on the stock, up from their prior target price of $24.00.

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

Opera Stock Performance

OPRA stock opened at $17.96 on Wednesday. The firm has a market cap of $1.59 billion, a PE ratio of 9.12 and a beta of 1.04. The company has a quick ratio of 2.51, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. Opera has a 12-month low of $10.11 and a 12-month high of $19.69. The business has a 50 day moving average of $15.25 and a 200-day moving average of $14.04.

Opera (NASDAQ:OPRA) last announced its earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Opera had a return on equity of 19.22% and a net margin of 39.22%. The business had revenue of $109.73 million for the quarter, compared to analyst estimates of $108.65 million. During the same period in the prior year, the company earned $0.15 EPS. As a group, sell-side analysts expect that Opera will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On Opera

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Opera by 135.4% during the third quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after buying an additional 1,186 shares during the period. Blue Trust Inc. lifted its stake in shares of Opera by 334.7% during the third quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after buying an additional 3,216 shares during the period. EntryPoint Capital LLC boosted its position in 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 buying an additional 4,364 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Opera by 1,474.9% in the 2nd quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock valued at $112,000 after acquiring an additional 7,640 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new stake in Opera during the 2nd quarter worth about $112,000. 10.21% of the stock is owned by institutional investors.

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.