Opera (NASDAQ:OPRA) Price Target Raised to $28.00 at TD Cowen

Opera (NASDAQ:OPRA) had its target price increased by investment analysts at TD Cowen from $25.00 to $28.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 48.78% from the stock’s previous close.

Several other brokerages have also recently commented on OPRA. B. Riley reiterated a “buy” rating and issued a $25.00 price target (up from $24.00) on shares of Opera in a research report on Wednesday. The Goldman Sachs Group lifted their price target on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Opera has a consensus rating of “Buy” and an average target price of $24.75.

Opera Price Performance

Opera stock traded up $0.25 during midday trading on Wednesday, hitting $18.82. The company’s stock had a trading volume of 732,474 shares, compared to its average volume of 761,282. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $15.03 and its 200-day moving average price is $13.96. Opera has a 12 month low of $10.11 and a 12 month high of $19.69. The company has a market capitalization of $1.66 billion, a PE ratio of 10.01 and a beta of 1.04.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. Opera had a net margin of 40.85% and a return on equity of 19.59%. The firm had revenue of $109.73 million for the quarter, compared to analysts’ expectations of $108.65 million. During the same period in the previous year, the business earned $0.15 earnings per share. Analysts anticipate that Opera will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Opera

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in Opera by 135.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after acquiring an additional 1,186 shares in the last quarter. Redwood Wealth Management Group LLC grew its stake in Opera by 4.5% during the 2nd quarter. Redwood Wealth Management Group LLC now owns 33,645 shares of the company’s stock valued at $472,000 after acquiring an additional 1,440 shares in the last quarter. Inspire Investing LLC grew its stake in Opera by 2.7% during the 3rd quarter. Inspire Investing LLC now owns 58,080 shares of the company’s stock valued at $897,000 after acquiring an additional 1,539 shares in the last quarter. Ritholtz Wealth Management grew its stake in 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 grew its stake in Opera by 2.1% during the 1st 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 in the last quarter. Hedge funds and other 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.