Opera (NASDAQ:OPRA) Stock Rating Upgraded by Zacks Research

Opera (NASDAQ:OPRA) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a research note on Monday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.83.

Opera Stock Performance

Shares of NASDAQ:OPRA opened at $14.33 on Monday. Opera has a 52-week low of $12.62 and a 52-week high of $22.50. The company has a market capitalization of $1.28 billion, a PE ratio of 15.92 and a beta of 1.25. The company has a fifty day moving average of $14.06 and a 200-day moving average of $16.47.

Institutional Investors Weigh In On Opera

Large investors have recently modified their holdings of the company. IFP Advisors Inc lifted its position in shares of Opera by 127.0% during the 3rd quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock valued at $234,000 after acquiring an additional 6,350 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in Opera during the third quarter worth $42,000. Huntington National Bank lifted its stake in shares of Opera by 37.8% in the third quarter. Huntington National Bank now owns 3,305 shares of the company’s stock valued at $68,000 after buying an additional 906 shares in the last quarter. Harvey Capital Management Inc. grew its holdings in shares of Opera by 171.8% during the third quarter. Harvey Capital Management Inc. now owns 100,025 shares of the company’s stock valued at $2,065,000 after buying an additional 63,225 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Opera during the second quarter worth about $83,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

About Opera

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.