Opera (NASDAQ:OPRA) Shares Gap Up to $9.71

Opera Ltd (NASDAQ:OPRA)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $7.70, but opened at $9.71. Opera shares last traded at $11.36, with a volume of 2,199,700 shares changing hands.

Several brokerages have recently weighed in on OPRA. Citigroup set a $14.00 price target on Opera and gave the company a “buy” rating in a report on Friday, August 23rd. B. Riley set a $19.00 price target on Opera and gave the company a “buy” rating in a report on Friday, August 23rd. Lake Street Capital began coverage on Opera in a report on Wednesday, October 2nd. They set a “buy” rating and a $19.00 price target for the company. ValuEngine upgraded Opera from a “strong sell” rating to a “sell” rating in a report on Friday, November 1st. Finally, Zacks Investment Research downgraded Opera from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.75.

The firm has a fifty day moving average of $10.00 and a 200 day moving average of $10.65. The company has a market capitalization of $1.01 billion, a P/E ratio of 28.40 and a beta of 1.89. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. Opera had a return on equity of 4.49% and a net margin of 14.40%. The company had revenue of $61.73 million during the quarter, compared to the consensus estimate of $55.65 million. Sell-side analysts anticipate that Opera Ltd will post 0.26 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cim LLC increased its holdings in Opera by 25.7% in the 3rd quarter. Cim LLC now owns 16,485 shares of the company’s stock worth $166,000 after buying an additional 3,370 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Opera in the 2nd quarter worth about $496,000. Trustcore Financial Services LLC bought a new stake in Opera in the 3rd quarter worth about $115,000. Genesis Investment Management LLP bought a new stake in Opera in the 3rd quarter worth about $50,842,000. Finally, Henry James International Management Inc. bought a new stake in Opera in the 3rd quarter worth about $181,000. Institutional investors own 9.05% of the company’s stock.

Opera Company Profile (NASDAQ:OPRA)

Opera Limited, through its subsidiaries, provides mobile and PC web browsers in Ireland, Russia, and internationally. It offers mobile browser products under the Opera Mini, Opera for Android, and Opera Touch names; PC browser under the Opera for Computers name; Opera News, a personalized news aggregation app; and Okash, a microfinance app.

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