Opera (NASDAQ:OPRA) Coverage Initiated at B. Riley

Research analysts at B. Riley started coverage on shares of Opera (NASDAQ:OPRA) in a report released on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $14.50 price target on the stock. B. Riley’s price objective would suggest a potential upside of 25.00% from the stock’s previous close. B. Riley also issued estimates for Opera’s Q2 2019 earnings at ($0.01) EPS, Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at $0.05 EPS, FY2019 earnings at $0.15 EPS, FY2020 earnings at $0.33 EPS and FY2021 earnings at $0.54 EPS.

Shares of NASDAQ OPRA traded up $0.02 on Wednesday, reaching $11.60. 1,950 shares of the company traded hands, compared to its average volume of 66,055. Opera has a fifty-two week low of $5.31 and a fifty-two week high of $15.62. The firm’s 50 day moving average is $10.52. The company has a market capitalization of $1.25 billion and a PE ratio of 29.23.

Opera (NASDAQ:OPRA) last posted its earnings results on Wednesday, May 22nd. The company reported $0.06 earnings per share (EPS) for the quarter. Opera had a net margin of 18.24% and a return on equity of 5.73%. The firm had revenue of $51.28 million during the quarter.

Several institutional investors have recently added to or reduced their stakes in OPRA. Two Sigma Investments LP purchased a new position in shares of Opera during the 4th quarter valued at approximately $94,000. Anchor Capital Advisors LLC boosted its position in Opera by 52.5% during the 1st quarter. Anchor Capital Advisors LLC now owns 54,530 shares of the company’s stock worth $358,000 after acquiring an additional 18,770 shares during the period. CSat Investment Advisory L.P. acquired a new stake in Opera during the 1st quarter worth about $1,795,000. FIL Ltd boosted its position in Opera by 45.3% during the 1st quarter. FIL Ltd now owns 1,581,316 shares of the company’s stock worth $10,389,000 after acquiring an additional 493,011 shares during the period. Finally, WT Asset Management Ltd acquired a new stake in Opera during the 1st quarter worth about $50,318,000. Institutional investors own 3.68% of the company’s stock.

About Opera

Opera Limited, through its subsidiaries, provides mobile and PC web browsers in Ireland, Russia, and internationally. It offers mobile browser products under the Opera Mini, Opera for Android, and Opera Touch names; PC browser under the Opera for Computers name; Opera News, a personalized news aggregation app; and Okash, a microfinance app.

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