Lake Street Capital Issues Positive Forecast for Opera (NASDAQ:OPRA) Stock Price

Opera (NASDAQ:OPRA) had its price target lifted by Lake Street Capital from $22.00 to $23.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on OPRA. B. Riley reaffirmed a “buy” rating and set a $25.00 price target (up previously from $24.00) on shares of Opera in a report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Opera from $19.50 to $23.00 and gave the company a “buy” rating in a report on Wednesday. Finally, TD Cowen lifted their price target on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $24.75.

Opera Stock Performance

Shares of NASDAQ OPRA opened at $18.71 on Wednesday. The firm has a 50 day moving average of $15.03 and a 200 day moving average of $13.96. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 9.95 and a beta of 1.04. Opera has a 12-month low of $10.11 and a 12-month high of $19.69.

Opera (NASDAQ:OPRA) last announced its earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $109.73 million during the quarter, compared to analyst estimates of $108.65 million. Opera had a net margin of 40.85% and a return on equity of 19.59%. During the same period in the previous year, the business posted $0.15 earnings per share. On average, research analysts anticipate that Opera will post 0.88 earnings per share for the current year.

Hedge Funds Weigh In On Opera

Several hedge funds have recently modified their holdings of OPRA. GAMMA Investing LLC lifted its holdings in shares of Opera by 135.4% in the third quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock worth $32,000 after buying an additional 1,186 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Opera by 334.7% in 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 in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of 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 buying an additional 4,364 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Opera by 1,474.9% in the second quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock worth $112,000 after buying an additional 7,640 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Opera in the second quarter worth $112,000. Hedge funds and other institutional investors 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.