Opera (NASDAQ:OPRA) Stock Price Up 2.8% – Here’s Why

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) were up 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 were traded during 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

A number of equities analysts have recently issued reports on OPRA shares. TD Cowen reaffirmed a “buy” rating on shares of Opera in a research report on Friday, March 13th. Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Opera from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Opera in a report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Opera presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Opera Trading Up 2.8%

The firm has a 50-day moving average of $16.61 and a 200-day moving average of $14.79. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 15.33 and a beta of 1.30.

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

Institutional Trading of Opera

Institutional investors and hedge funds have recently bought and sold shares of the business. Foster Dykema Cabot & Partners LLC acquired a new stake in Opera during the 3rd quarter valued at approximately $42,000. Parallel Advisors LLC grew its position in Opera by 459.5% during the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after purchasing an additional 2,495 shares during the period. Huntington National Bank grew its position in Opera by 37.8% during the 3rd quarter. Huntington National Bank now owns 3,305 shares of the company’s stock worth $68,000 after purchasing an additional 906 shares during the period. State of Tennessee Department of Treasury acquired a new stake in Opera during the 2nd quarter worth about $83,000. Finally, Ascentis Independent Advisors acquired a new stake in Opera during the 1st quarter worth about $141,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.