Opera (NASDAQ:OPRA) Rating Lowered to “Hold” at Wall Street Zen

Opera (NASDAQ:OPRA) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also issued reports on OPRA. B. Riley Financial upped their price target on Opera from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Opera in a research note on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.75.

Opera Price Performance

NASDAQ:OPRA opened at $18.96 on Friday. The company has a market cap of $1.70 billion, a PE ratio of 13.64 and a beta of 1.32. The business’s 50 day moving average is $19.32 and its two-hundred day moving average is $17.00. Opera has a 52 week low of $11.71 and a 52 week high of $21.06.

Insider Buying and Selling at Opera

In related news, CEO Lin Song sold 44,400 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $18.52, for a total value of $822,288.00. Following the sale, the chief executive officer owned 120,846 shares of the company’s stock, valued at approximately $2,238,067.92. This trade represents a 26.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 84.36% of the company’s stock.

Institutional Investors Weigh In On Opera

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in Opera by 459.5% in the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after buying an additional 2,495 shares during the period. State of Tennessee Department of Treasury acquired a new position in shares of Opera during the second quarter valued at $83,000. GAMMA Investing LLC boosted its holdings in shares of Opera by 10.4% during the second quarter. GAMMA Investing LLC now owns 6,904 shares of the company’s stock valued at $137,000 after acquiring an additional 652 shares during the period. Ascentis Independent Advisors bought a new position in shares of Opera during the first quarter worth about $141,000. Finally, Quent Capital LLC bought a new position in shares of Opera during the fourth quarter worth about $212,000. 10.21% of the stock is 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.