Opera (NASDAQ:OPRA) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Opera (NASDAQ:OPRA) from a buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Opera Limited provides web browsers, Opera News, an AI-driven content discovery platform. Opera Limited is based in OSLO, Norway. “

A number of other analysts also recently commented on OPRA. B. Riley dropped their target price on shares of Opera from $15.00 to $11.00 and set a buy rating on the stock in a report on Thursday, May 14th. ValuEngine upgraded shares of Opera from a sell rating to a hold rating in a report on Friday, April 17th. BidaskClub upgraded shares of Opera from a sell rating to a hold rating in a report on Wednesday. Lake Street Capital cut their price target on shares of Opera from $21.00 to $15.00 and set a buy rating on the stock in a report on Friday, April 24th. Finally, TheStreet lowered shares of Opera from a c- rating to a d rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Opera currently has an average rating of Buy and a consensus target price of $12.05.

Shares of NASDAQ:OPRA traded down $0.12 during trading on Wednesday, reaching $6.06. The company had a trading volume of 197,119 shares, compared to its average volume of 331,039. The firm’s fifty day moving average is $5.35 and its 200 day moving average is $7.50. The firm has a market capitalization of $678.10 million, a PE ratio of 17.66 and a beta of 1.46. Opera has a twelve month low of $4.60 and a twelve month high of $14.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.19 and a current ratio of 3.25.

Opera (NASDAQ:OPRA) last released its earnings results on Wednesday, May 20th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Opera had a return on equity of 4.54% and a net margin of 7.72%. The business had revenue of $138.22 million during the quarter, compared to the consensus estimate of $135.04 million. Equities analysts predict that Opera will post 0.04 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Lido Advisors LLC acquired a new position in Opera in the 1st quarter valued at approximately $55,000. Malaga Cove Capital LLC acquired a new position in Opera in the 4th quarter valued at approximately $111,000. Trustcore Financial Services LLC increased its stake in Opera by 14.9% in the 4th quarter. Trustcore Financial Services LLC now owns 13,100 shares of the company’s stock valued at $121,000 after buying an additional 1,700 shares during the period. Cubist Systematic Strategies LLC increased its stake in Opera by 22.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 13,913 shares of the company’s stock valued at $129,000 after buying an additional 2,509 shares during the period. Finally, Stevens Capital Management LP acquired a new position in Opera in the 4th quarter valued at approximately $139,000. Hedge funds and other institutional investors own 10.23% of the company’s stock.

About Opera

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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