Opera (NASDAQ:OPRA) Shares Gap Down to $5.39

Shares of Opera Limited (NASDAQ:OPRAGet Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $5.39, but opened at $5.19. Opera shares last traded at $4.67, with a volume of 1,100 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on OPRA shares. Cowen increased their target price on Opera from $10.50 to $12.50 and gave the stock an “outperform” rating in a research note on Monday, October 31st. Cowen raised their price target on Opera from $10.50 to $12.50 and gave the company an “outperform” rating in a research note on Monday, October 31st. Citigroup cut their price target on Opera from $9.00 to $8.20 in a research note on Friday, October 28th. Finally, Lake Street Capital cut their price target on Opera from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, August 31st.

Opera Price Performance

The business has a 50-day moving average of $4.53 and a two-hundred day moving average of $4.79. The company has a market cap of $596.66 million, a P/E ratio of -6.76 and a beta of 1.12.

Opera (NASDAQ:OPRAGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.09 earnings per share for the quarter. Opera had a negative return on equity of 8.39% and a negative net margin of 29.29%. The company had revenue of $85.35 million for the quarter, compared to the consensus estimate of $81.99 million.

Institutional Investors Weigh In On Opera

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its holdings in Opera by 3,169.9% in the third quarter. US Bancorp DE now owns 5,755 shares of the company’s stock worth $25,000 after acquiring an additional 5,579 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Opera by 66.7% in the first quarter. JPMorgan Chase & Co. now owns 5,000 shares of the company’s stock valued at $30,000 after buying an additional 2,000 shares in the last quarter. Calton & Associates Inc. purchased a new stake in shares of Opera in the third quarter valued at approximately $48,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Opera by 36.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,987 shares of the company’s stock worth $118,000 after acquiring an additional 5,355 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Opera by 61.2% in the third quarter. BlackRock Inc. now owns 37,936 shares of the company’s stock worth $165,000 after acquiring an additional 14,406 shares during the last quarter. Institutional investors own 6.40% of the company’s stock.

About Opera

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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; and Opera News, an AI-powered personalized news discovery and aggregation service.

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