Opera (NASDAQ:OPRA) Sets New 12-Month High – Still a Buy?

Opera Limited (NASDAQ:OPRA) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $20.00 and last traded at $19.89, with a volume of 83091 shares trading hands. The stock had previously closed at $19.73.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Lake Street Capital upped their price objective on Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. B. Riley restated a “buy” rating and issued a $25.00 price target (up previously from $24.00) on shares of Opera in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group increased 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, October 30th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $24.75.

Opera Price Performance

The company has a market capitalization of $1.73 billion, a P/E ratio of 9.89 and a beta of 1.02. The company has a fifty day moving average price of $16.13 and a 200 day moving average price of $14.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Opera had a net margin of 39.22% and a return on equity of 19.22%. The company had revenue of $109.73 million during the quarter, compared to analyst estimates of $108.65 million. During the same period in the prior year, the business posted $0.15 EPS. On average, sell-side analysts forecast that Opera Limited will post 0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Opera

A number of large investors have recently made changes to their positions in the business. Portolan Capital Management LLC increased its stake in Opera by 63.5% in the 3rd quarter. Portolan Capital Management LLC now owns 711,820 shares of the company’s stock valued at $10,998,000 after buying an additional 276,356 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of Opera by 44.0% during the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock worth $4,249,000 after acquiring an additional 84,001 shares in the last quarter. Richard P Slaughter Associates Inc grew its stake in Opera by 1.8% in the second quarter. Richard P Slaughter Associates Inc now owns 199,777 shares of the company’s stock valued at $2,805,000 after purchasing an additional 3,496 shares in the last quarter. Harvey Capital Management Inc. bought a new position in shares of Opera in the 3rd quarter valued at approximately $2,420,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Opera by 5.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company’s stock worth $1,360,000 after purchasing an additional 4,274 shares during the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

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.