Opera (NASDAQ:OPRA) Now Covered by Cowen

Investment analysts at Cowen began coverage on shares of Opera (NASDAQ:OPRA) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $10.00 price target on the stock. Cowen’s price objective would indicate a potential upside of 65.02% from the stock’s current price.

OPRA has been the topic of several other reports. BidaskClub upgraded shares of Opera from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded shares of Opera from a “buy” rating to a “hold” rating in a report on Wednesday. B. Riley lowered their price objective 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. Finally, Lake Street Capital lowered their price objective 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.05.

OPRA stock traded down $0.12 during mid-day trading on Thursday, hitting $6.06. 197,119 shares of the company were exchanged, compared to its average volume of 331,039. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.19 and a current ratio of 3.25. The firm has a market cap of $678.10 million, a P/E ratio of 17.66 and a beta of 1.46. The firm’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $7.50. Opera has a 1-year low of $4.60 and a 1-year high of $14.94.

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

Several large investors have recently added to or reduced their stakes in the stock. Trustcore Financial Services LLC grew its stake in shares of Opera by 14.9% in the fourth 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 in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Opera by 22.0% in the fourth 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 in the last quarter. Malaga Cove Capital LLC grew its stake in shares of Opera by 41.7% in the first quarter. Malaga Cove Capital LLC now owns 17,000 shares of the company’s stock valued at $91,000 after buying an additional 5,000 shares in the last quarter. Morgan Stanley grew its stake in shares of Opera by 58.3% in the first quarter. Morgan Stanley now owns 18,748 shares of the company’s stock valued at $101,000 after buying an additional 6,902 shares in the last quarter. Finally, Lido Advisors LLC bought a new position in shares of Opera in the first quarter valued at $55,000. 10.23% of the stock is owned by institutional investors and hedge funds.

Opera Company Profile

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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