Opera (NASDAQ:OPRA) Price Target Raised to $23.00 at Lake Street Capital

Opera (NASDAQ:OPRA) had its price objective increased by Lake Street Capital from $22.00 to $23.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

OPRA has been the topic of a number of other reports. TD Cowen boosted their target price on shares of Opera from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley reiterated a “buy” rating and issued a $25.00 price target (up previously from $24.00) on shares of Opera in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on Opera from $19.50 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $24.75.

Opera Price Performance

NASDAQ:OPRA opened at $17.96 on Wednesday. The business’s 50-day moving average is $15.25 and its 200 day moving average is $14.04. Opera has a 12 month low of $10.11 and a 12 month high of $19.69. The company has a market capitalization of $1.59 billion, a P/E ratio of 9.12 and a beta of 1.04. The company has a current ratio of 2.10, a quick ratio of 2.51 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last posted its 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 19.22% and a net margin of 39.22%. The firm had revenue of $109.73 million during the quarter, compared to the consensus estimate of $108.65 million. During the same period in the prior year, the company earned $0.15 EPS. On average, equities research analysts forecast that Opera will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Opera

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 last quarter. Blue Trust Inc. grew its position in Opera by 334.7% in the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock valued at $65,000 after acquiring an additional 3,216 shares during the last quarter. EntryPoint Capital LLC increased its stake in Opera by 248.8% in the first quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock worth $97,000 after purchasing an additional 4,364 shares during the period. National Bank of Canada FI boosted its stake in shares of Opera by 1,474.9% during 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 during the period. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Opera in the second quarter worth about $112,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

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.