Opera (NASDAQ:OPRA) Price Target Raised to $23.00

Opera (NASDAQ:OPRA) had its target price raised by equities research analysts at The Goldman Sachs Group from $19.50 to $23.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 23.86% from the stock’s previous close.

Separately, B. Riley increased their price target on shares of Opera from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 23rd.

Opera Trading Up 10.1 %

Shares of NASDAQ:OPRA opened at $18.57 on Wednesday. Opera has a 52-week low of $10.11 and a 52-week high of $19.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.51 and a current ratio of 2.51. The company has a market cap of $1.64 billion, a P/E ratio of 9.88 and a beta of 1.04. The stock’s 50-day moving average is $15.03 and its 200-day moving average is $13.96.

Opera (NASDAQ:OPRA) last released its 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 return on equity of 19.59% and a net margin of 40.85%. The firm had revenue of $109.73 million for the quarter, compared to analyst estimates of $108.65 million. During the same quarter last year, the firm posted $0.15 EPS. Equities research analysts predict that Opera will post 0.88 earnings per share for the current year.

Institutional Trading of Opera

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Opera by 135.4% in the third quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after purchasing an additional 1,186 shares in the last quarter. Redwood Wealth Management Group LLC raised its stake in shares of Opera by 4.5% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 33,645 shares of the company’s stock valued at $472,000 after buying an additional 1,440 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of Opera by 2.7% during the 3rd quarter. Inspire Investing LLC now owns 58,080 shares of the company’s stock worth $897,000 after acquiring an additional 1,539 shares during the period. Ritholtz Wealth Management boosted its position in shares of Opera by 9.6% during the 2nd quarter. Ritholtz Wealth Management now owns 18,284 shares of the company’s stock valued at $257,000 after acquiring an additional 1,595 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Opera by 2.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 85,761 shares of the company’s stock valued at $1,356,000 after acquiring an additional 1,804 shares during the period. Institutional investors own 10.21% of the company’s stock.

About Opera

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.