Opera (NASDAQ:OPRA) Earns Overweight Rating from Analysts at Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Opera (NASDAQ:OPRA - Get Free Report) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set an "overweight" rating and a $25.00 price target on the stock. Piper Sandler's price objective points to a potential upside of 22.07% from the stock's current price.

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

Opera Stock Performance

NASDAQ:OPRA traded up $0.88 during mid-day trading on Wednesday, hitting $20.48. 568,827 shares of the company traded hands, compared to its average volume of 381,568. 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 stock's fifty day moving average price is $18.77 and its 200-day moving average price is $16.51. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 10.40 and a beta of 1.04. Opera has a one year low of $10.11 and a one year high of $20.70.

Institutional Investors Weigh In On Opera

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Opera by 135.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company's stock worth $32,000 after buying an additional 1,186 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of Opera by 2.7% in the 3rd quarter. Inspire Investing LLC now owns 58,080 shares of the company's stock valued at $897,000 after acquiring an additional 1,539 shares during the last quarter. Blue Trust Inc. grew its position in Opera by 334.7% in the third quarter. Blue Trust Inc. now owns 4,177 shares of the company's stock worth $65,000 after acquiring an additional 3,216 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Opera by 30.5% during the third 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 during the last quarter. Finally, Calton & Associates Inc. purchased a new stake in Opera during the third quarter valued at approximately $218,000. 10.21% of the stock is owned by 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.