Piper Sandler Begins Coverage on Opera (NASDAQ:OPRA)

Stock analysts at Piper Sandler initiated coverage on shares of Opera (NASDAQ:OPRA) in a research note issued on Wednesday, MarketBeat reports. The firm set an “overweight” rating and a $25.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 27.55% from the stock’s current price.

A number of other analysts have also recently commented on the stock. TD Cowen upped their price objective on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Lake Street Capital upped their target price on shares of Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, B. Riley reaffirmed a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Opera in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Opera has an average rating of “Buy” and a consensus target price of $24.80.

Opera Price Performance

OPRA opened at $19.60 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. Opera has a 12 month low of $10.11 and a 12 month high of $20.70. The company has a fifty day simple moving average of $18.76 and a 200 day simple moving average of $16.43. The stock has a market cap of $1.73 billion, a P/E ratio of 9.95 and a beta of 1.04.

Hedge Funds Weigh In On Opera

Hedge funds and other institutional investors have recently bought and sold shares of the business. Penn Mutual Asset Management bought a new position in Opera during the third quarter worth about $952,000. Rockefeller Capital Management L.P. grew its holdings in Opera by 44.0% during the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock worth $4,249,000 after purchasing an additional 84,001 shares during the period. Point72 Asset Management L.P. bought a new position in Opera during the third quarter worth about $888,000. Tidal Investments LLC lifted its position in Opera by 62.4% during the third quarter. Tidal Investments LLC now owns 670,140 shares of the company’s stock worth $10,354,000 after acquiring an additional 257,469 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Opera during the fourth quarter worth approximately $530,000. 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 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.