Opera (NASDAQ:OPRA) Trading 2.8% Higher – Still a Buy?

Opera Limited Sponsored ADR (NASDAQ:OPRA) shares rose 2.8% during mid-day trading on Monday . The company traded as high as $19.38 and last traded at $19.31. Approximately 642,677 shares traded hands during mid-day trading, an increase of 79% from the average daily volume of 358,498 shares. The stock had previously closed at $18.78.

Analyst Ratings Changes

OPRA has been the subject of a number of analyst reports. Zacks Research downgraded Opera from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of Opera in a research report on Friday, March 27th. Wall Street Zen downgraded Opera from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, TD Cowen restated a “buy” rating on shares of Opera in a research report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Opera Stock Up 2.8%

The company’s 50 day moving average price is $16.61 and its two-hundred day moving average price is $14.79. The stock has a market cap of $1.74 billion, a P/E ratio of 15.33 and a beta of 1.30.

Opera (NASDAQ:OPRA) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.30 earnings per share for the quarter. The firm had revenue of $176.65 million during the quarter. Opera had a return on equity of 8.54% and a net margin of 17.72%. As a group, equities research analysts forecast that Opera Limited Sponsored ADR will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Opera

Large investors have recently bought and sold shares of the business. Foster Dykema Cabot & Partners LLC bought a new position in Opera in the third quarter worth about $42,000. Parallel Advisors LLC raised its holdings in Opera by 459.5% in the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after purchasing an additional 2,495 shares in the last quarter. Huntington National Bank increased its position in shares of Opera by 37.8% during the third quarter. Huntington National Bank now owns 3,305 shares of the company’s stock worth $68,000 after purchasing an additional 906 shares in the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of Opera during the second quarter worth $83,000. Finally, Ascentis Independent Advisors acquired a new position in shares of Opera during the first quarter worth $141,000. Institutional investors own 10.21% of the company’s stock.

About Opera

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.