Opera (NASDAQ:OPRA) Shares Gap Up – Time to Buy?

Opera Limited (NASDAQ:OPRA) shares gapped up before the market opened on Tuesday . The stock had previously closed at $18.80, but opened at $19.20. Opera shares last traded at $19.05, with a volume of 118,823 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OPRA. TD Cowen boosted their price target on Opera from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on Opera from $19.50 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Lake Street Capital boosted their target price on shares of Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, B. Riley restated a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Opera in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $24.75.

Opera Stock Up 4.7 %

The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $15.92 and a 200-day simple moving average of $14.34. The stock has a market cap of $1.74 billion, a P/E ratio of 9.54 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, topping the consensus estimate of $0.17 by $0.05. Opera had a net margin of 39.22% and a return on equity of 19.22%. The company had revenue of $109.73 million for the quarter, compared to the consensus estimate of $108.65 million. During the same quarter in the previous year, the firm posted $0.15 EPS. Analysts expect that Opera Limited will post 0.79 EPS for the current year.

Institutional Trading of Opera

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Portolan Capital Management LLC raised its position in shares of Opera by 63.5% during the 3rd quarter. Portolan Capital Management LLC now owns 711,820 shares of the company’s stock valued at $10,998,000 after acquiring an additional 276,356 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Opera by 44.0% during the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock valued at $4,249,000 after purchasing an additional 84,001 shares during the last quarter. Richard P Slaughter Associates Inc boosted its holdings in shares of Opera by 1.8% in 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. bought a new position in shares of Opera in the 3rd quarter valued at about $2,420,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in Opera by 5.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company’s stock worth $1,360,000 after buying an additional 4,274 shares during the last quarter. Institutional investors and hedge funds 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.