Opera (NASDAQ:OPRA) Given New $23.00 Price Target at The Goldman Sachs Group

Opera (NASDAQ:OPRA) had its target price lifted by equities research analysts at The Goldman Sachs Group from $19.50 to $23.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 27.99% from the company’s previous close.

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

Opera Trading Down 4.0 %

Shares of Opera stock opened at $17.97 on Wednesday. The business has a fifty day simple moving average of $15.15 and a 200-day simple moving average of $13.99. Opera has a fifty-two week low of $10.11 and a fifty-two week high of $19.69. The firm has a market cap of $1.59 billion, a price-to-earnings 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 (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $109.73 million during 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 period in the prior year, the company earned $0.15 EPS. On average, equities analysts forecast that Opera will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OPRA. Harvey Capital Management Inc. purchased a new position in Opera during the 3rd quarter worth approximately $2,420,000. Inspire Investing LLC acquired a new stake in shares of Opera in the second quarter worth $794,000. Caxton Associates LP boosted its position in shares of Opera by 103.5% in the first quarter. Caxton Associates LP now owns 72,629 shares of the company’s stock worth $1,148,000 after buying an additional 36,931 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Opera during the first quarter valued at $564,000. Finally, Janney Montgomery Scott LLC acquired a new position in Opera during the first quarter valued at $475,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.