Opera (NASDAQ:OPRA) Shares Gap Up – Here’s Why

Opera Limited (NASDAQ:OPRA)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $18.80, but opened at $19.20. Opera shares last traded at $19.05, with a volume of 118,823 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Lake Street Capital upped their price objective on Opera from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of Opera from $19.50 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. TD Cowen increased their price target on Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, B. Riley reissued a “buy” rating and issued a $25.00 price objective (up from $24.00) on shares of Opera in a research note on Wednesday, October 30th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $24.75.

Opera Stock Up 4.7 %

The company’s 50 day moving average price is $15.92 and its 200 day moving average price is $14.34. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 9.54 and a beta of 1.02.

Opera (NASDAQ:OPRA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Opera had a return on equity of 19.22% and a net margin of 39.22%. The business had revenue of $109.73 million during the quarter, compared to analysts’ expectations of $108.65 million. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, research analysts forecast that Opera Limited will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Opera

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of Opera by 135.4% in the third quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after acquiring an additional 1,186 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Opera during the third quarter worth approximately $61,000. Blue Trust Inc. lifted its stake in shares of Opera by 334.7% in the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after acquiring an additional 3,216 shares during the period. Quantbot Technologies LP acquired a new position in Opera during the 3rd quarter worth approximately $74,000. Finally, EntryPoint Capital LLC lifted its holdings in Opera by 248.8% in the first quarter. EntryPoint Capital LLC now owns 6,118 shares of the company’s stock valued at $97,000 after acquiring an additional 4,364 shares during the period. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Norway and internationally. The company offers mobile browser products, such as Opera Mini, Opera browser for Android and iOS, and Opera GX for PCs and Mobile; 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.