Opera (NASDAQ:OPRA) Lowered to Hold at Zacks Investment Research

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Opera (NASDAQ:OPRA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, Zacks.com reports.

According to Zacks, “Opera Limited provides web browsers, Opera News, an AI-driven content discovery platform. Opera Limited is based in OSLO, Norway. “

Other analysts also recently issued reports about the company. BidaskClub downgraded Opera from a “sell” rating to a “strong sell” rating in a report on Friday, February 7th. B. Riley decreased their price target on Opera from $20.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, February 6th. TheStreet cut shares of Opera from a “c-” rating to a “d” rating in a research report on Wednesday, January 29th. Finally, ValuEngine raised shares of Opera from a “sell” rating to a “hold” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Opera presently has a consensus rating of “Hold” and a consensus target price of $14.44.

Shares of Opera stock opened at $6.88 on Friday. The company has a current ratio of 4.28, a quick ratio of 4.25 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $8.10 and a two-hundred day moving average price of $9.97. Opera has a 1-year low of $6.36 and a 1-year high of $14.94. The company has a market cap of $772.46 million, a P/E ratio of 16.00 and a beta of 1.82.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, November 14th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.21. Opera had a return on equity of 6.53% and a net margin of 18.82%. The firm had revenue of $93.68 million during the quarter, compared to the consensus estimate of $80.13 million. Equities research analysts forecast that Opera will post 0.46 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Genesis Investment Management LLP boosted its position in shares of Opera by 24.5% during the 4th quarter. Genesis Investment Management LLP now owns 6,204,432 shares of the company’s stock worth $57,391,000 after purchasing an additional 1,219,931 shares in the last quarter. Marshall Wace North America L.P. boosted its position in shares of Opera by 34.4% during the 4th quarter. Marshall Wace North America L.P. now owns 148,031 shares of the company’s stock worth $1,370,000 after purchasing an additional 37,877 shares in the last quarter. Millennium Management LLC bought a new position in shares of Opera during the 3rd quarter worth about $940,000. State Street Corp bought a new position in shares of Opera during the 4th quarter worth about $211,000. Finally, Ellington Management Group LLC bought a new position in shares of Opera during the 4th quarter worth about $143,000. 10.79% of the stock is currently owned by institutional investors.

Opera Company Profile

Opera Limited, through its subsidiaries, provides mobile and PC web browsers in Ireland, Russia, and internationally. It offers mobile browser products under the Opera Mini, Opera for Android, and Opera Touch names; PC browser under the Opera for Computers name; Opera News, a personalized news aggregation app; and Okash, a microfinance app.

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