Opera (NASDAQ:OPRA) Stock Price Down 6.7%

Opera Limited (NASDAQ:OPRA) shares traded down 6.7% during mid-day trading on Thursday . The company traded as low as $12.85 and last traded at $13.52. 720,367 shares were traded during mid-day trading, a decline of 25% from the average session volume of 959,538 shares. The stock had previously closed at $14.49.

Analysts Set New Price Targets

Several research firms recently commented on OPRA. TD Cowen boosted their price objective on shares of Opera from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. TheStreet upgraded shares of Opera from a “c+” rating to a “b-” rating in a report on Monday, March 4th.

Opera Price Performance

The firm’s fifty day simple moving average is $14.30 and its 200-day simple moving average is $12.64. The company has a quick ratio of 4.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.21 billion, a PE ratio of 7.14 and a beta of 0.81.

Opera (NASDAQ:OPRA) last announced its quarterly earnings results on Thursday, February 29th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $1.20. The firm had revenue of $113.00 million for the quarter, compared to the consensus estimate of $112.20 million. Opera had a net margin of 42.69% and a return on equity of 19.90%. On average, research analysts forecast that Opera Limited will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Opera

Hedge funds have recently modified their holdings of the business. Citigroup Inc. bought a new stake in Opera during the third quarter valued at about $31,843,000. Element Capital Management LLC bought a new position in shares of Opera in the third quarter worth approximately $1,690,000. Walleye Capital LLC purchased a new stake in shares of Opera in the third quarter worth $3,652,000. Toroso Investments LLC bought a new stake in shares of Opera during the 3rd quarter valued at $3,009,000. Finally, Alpine Global Management LLC purchased a new position in shares of Opera during the 3rd quarter valued at $1,652,000. Institutional investors own 10.21% of the company’s stock.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and 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.