Opera (NASDAQ:OPRA) Stock Rating Upgraded by Zacks Research

Opera (NASDAQ:OPRA) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on OPRA. The Goldman Sachs Group decreased their price target on shares of Opera from $24.50 to $21.50 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $22.75.

Opera Stock Performance

NASDAQ OPRA opened at $15.10 on Tuesday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 12.69 and a beta of 1.13. Opera has a one year low of $11.71 and a one year high of $21.06. The company’s 50 day moving average price is $13.68 and its 200 day moving average price is $15.07.

Opera (NASDAQ:OPRA) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Opera had a return on equity of 8.00% and a net margin of 17.61%.The business had revenue of $177.21 million for the quarter, compared to analysts’ expectations of $164.55 million. Sell-side analysts forecast that Opera will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Huntington National Bank boosted its stake in shares of Opera by 37.8% in the third quarter. Huntington National Bank now owns 3,305 shares of the company’s stock valued at $68,000 after purchasing an additional 906 shares during the period. Harvey Capital Management Inc. lifted its holdings in Opera by 0.9% in the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after buying an additional 925 shares in the last quarter. Foster Dykema Cabot & Partners LLC acquired a new position in Opera in the 3rd quarter worth $42,000. State of Tennessee Department of Treasury purchased a new position in Opera in the 2nd quarter valued at about $83,000. Finally, IFP Advisors Inc boosted its position in Opera by 127.0% in the 3rd quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock valued at $234,000 after buying an additional 6,350 shares during the last quarter. 10.21% of the stock is owned by institutional investors and hedge funds.

Key Opera News

Here are the key news stories impacting Opera this week:

• Positive Sentiment: Zacks Research upgraded OPRA from “hold” to “strong-buy,” a catalyst that can push short-term demand as investors react to the new recommendation. Zacks Upgrade
• Positive Sentiment: Zacks also published pieces noting earnings-estimate revisions for Opera and suggesting the stock could rally materially based on higher EPS outlooks and a bullish consensus price target — these estimate upgrades are the primary fundamental driver cited for today’s move. Earnings Estimates Moving Higher Analyst Price Target Note
• Neutral Sentiment: Wide entertainment media coverage about opera/ballet sparked by Timothée Chalamet’s comments and responses from figures like Andrea Bocelli has increased general public attention to “opera.” This cultural buzz may lift brand searches for the name but is unlikely to move Opera Limited’s core fundamentals (browser/consumer & fintech products). Variety: Bocelli & Chalamet Vanity Fair: Cultural Coverage

Opera Company Profile

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.