Opera (NASDAQ:OPRA) Lowered to Hold at Zacks Investment Research

Opera (NASDAQ:OPRA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday, 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. “

Other equities research analysts have also recently issued reports about the company. TheStreet cut Opera from a “c-” rating to a “d” rating in a research note on Wednesday, January 29th. ValuEngine upgraded Opera from a “sell” rating to a “hold” rating in a research note on Thursday, January 16th. BidaskClub cut Opera from a “sell” rating to a “strong sell” rating in a research note on Friday, February 7th. Finally, B. Riley cut their price target on Opera from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Opera presently has an average rating of “Hold” and a consensus price target of $14.44.

Shares of OPRA stock opened at $6.88 on Friday. The company has a current ratio of 4.28, a quick ratio of 4.25 and a debt-to-equity ratio of 0.01. The stock has a market cap of $772.46 million, a P/E ratio of 16.00 and a beta of 1.82. The stock has a 50 day simple moving average of $8.10 and a 200 day simple moving average of $9.97. Opera has a 1 year low of $6.36 and a 1 year high of $14.94.

Opera (NASDAQ:OPRA) last issued its quarterly earnings results on Thursday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $93.68 million during the quarter, compared to analysts’ expectations of $80.13 million. Opera had a return on equity of 6.53% and a net margin of 18.82%. Analysts forecast that Opera will post 0.46 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Genesis Investment Management LLP lifted its stake in Opera by 24.5% during the fourth quarter. Genesis Investment Management LLP now owns 6,204,432 shares of the company’s stock worth $57,391,000 after purchasing an additional 1,219,931 shares during the last quarter. Marshall Wace North America L.P. lifted its stake in Opera by 34.4% during the fourth quarter. Marshall Wace North America L.P. now owns 148,031 shares of the company’s stock worth $1,370,000 after purchasing an additional 37,877 shares during the last quarter. Millennium Management LLC bought a new stake in Opera during the third quarter worth $940,000. State Street Corp bought a new stake in Opera during the fourth quarter worth $211,000. Finally, Ellington Management Group LLC acquired a new position in shares of Opera during the fourth quarter worth $143,000. Hedge funds and other institutional investors own 10.79% of the company’s stock.

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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