TD Cowen Issues Positive Forecast for Opera (NASDAQ:OPRA) Stock Price

Opera (NASDAQ:OPRA) had its price objective lifted by TD Cowen from $25.00 to $28.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently commented on the stock. B. Riley restated a “buy” rating and set a $25.00 price target (up previously from $24.00) on shares of Opera in a research note on Wednesday. The Goldman Sachs Group raised their target price on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.75.

Opera Price Performance

Shares of OPRA stock opened at $17.96 on Wednesday. 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 1.02. The stock has a 50 day moving average of $15.25 and a two-hundred day moving average of $14.04. 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 issued its earnings results on Thursday, August 22nd. The company reported $0.22 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $108.65 million. During the same period last year, the business earned $0.15 earnings per share. As a group, equities analysts expect that Opera will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Avantax Advisory Services Inc. increased its holdings in Opera by 56.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 24,597 shares of the company’s stock valued at $389,000 after purchasing an additional 8,915 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Opera in the first quarter valued at about $475,000. GSA Capital Partners LLP bought a new position in shares of Opera in the first quarter valued at about $564,000. Hennion & Walsh Asset Management Inc. lifted its position in Opera by 45.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 83,734 shares of the company’s stock worth $1,176,000 after buying an additional 26,201 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Opera by 2.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 85,761 shares of the company’s stock valued at $1,356,000 after acquiring an additional 1,804 shares in the last quarter. Institutional investors own 10.21% of the company’s stock.

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.