Opera (NASDAQ:OPRA) Price Target Raised to $23.00 at Lake Street Capital

Opera (NASDAQ:OPRA) had its price objective hoisted by analysts at Lake Street Capital from $22.00 to $23.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s price target would suggest a potential upside of 22.73% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. TD Cowen raised their target price on Opera from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on Opera from $19.50 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, B. Riley reiterated a “buy” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Opera in a research note on Wednesday. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, Opera has an average rating of “Buy” and an average target price of $24.75.

Opera Stock Performance

Shares of NASDAQ:OPRA traded up $0.17 during midday trading on Wednesday, reaching $18.74. The company’s stock had a trading volume of 758,510 shares, compared to its average volume of 761,406. The firm has a market capitalization of $1.66 billion, a PE ratio of 10.01 and a beta of 1.04. Opera has a twelve month low of $10.11 and a twelve month high of $19.69. The stock has a fifty day moving average of $15.03 and a 200 day moving average of $13.96. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $109.73 million for the quarter, compared to analyst estimates of $108.65 million. Opera had a net margin of 40.85% and a return on equity of 19.59%. During the same quarter last year, the business earned $0.15 earnings per share. On average, equities analysts expect that Opera will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Opera

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harvey Capital Management Inc. acquired a new stake in shares of Opera during the 3rd quarter worth about $2,420,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Opera by 5.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 88,008 shares of the company’s stock worth $1,360,000 after acquiring an additional 4,274 shares in the last quarter. Calton & Associates Inc. acquired a new stake in shares of Opera during the 3rd quarter worth about $218,000. Allspring Global Investments Holdings LLC raised its position in shares of Opera by 30.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,700 shares of the company’s stock worth $212,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Opera by 334.7% during the third quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after buying an additional 3,216 shares during the period. Institutional investors and hedge funds own 10.21% of the company’s stock.

About Opera

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.