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

Opera (NASDAQ:OPRA) had its target price boosted by Lake Street Capital from $22.00 to $23.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on OPRA. B. Riley reissued a “buy” rating and set a $25.00 price target (up from $24.00) on shares of Opera in a research report on Wednesday. TD Cowen raised their price objective on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group raised their price objective on shares of Opera from $19.50 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $24.75.

Opera Trading Up 0.8 %

Shares of NASDAQ OPRA opened at $18.71 on Wednesday. Opera has a 1 year low of $10.11 and a 1 year high of $19.69. The stock has a market cap of $1.65 billion, a P/E ratio of 9.95 and a beta of 1.04. The firm has a 50-day moving average of $15.03 and a 200 day moving average of $13.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.51 and a quick ratio of 2.51.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Opera had a net margin of 40.85% and a return on equity of 19.59%. The company had revenue of $109.73 million during the quarter, compared to analysts’ expectations of $108.65 million. During the same period last year, the company posted $0.15 EPS. As a group, sell-side analysts expect that Opera will post 0.88 EPS for the current fiscal year.

Institutional Trading of Opera

A number of large investors have recently made changes to their positions in the stock. Harvey Capital Management Inc. bought a new stake in shares of Opera in the third quarter worth approximately $2,420,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Opera by 5.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company’s stock worth $1,360,000 after acquiring an additional 4,274 shares during the period. Calton & Associates Inc. bought a new stake in shares of Opera in the third quarter worth approximately $218,000. Allspring Global Investments Holdings LLC grew its stake in shares of Opera by 30.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,700 shares of the company’s stock worth $212,000 after acquiring an additional 3,200 shares during the period. Finally, Blue Trust Inc. grew its stake 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 acquiring an additional 3,216 shares during the period. 10.21% of the stock is currently owned by institutional investors.

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.