Opera (NASDAQ:OPRA) Sets New 52-Week High – Should You Buy?

Opera Limited (NASDAQ:OPRA)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $22.20 and last traded at $22.22, with a volume of 4061 shares. The stock had previously closed at $21.86.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OPRA shares. B. Riley reaffirmed a “buy” rating and set a $25.00 target price (up previously from $24.00) on shares of Opera in a report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on Opera from $19.50 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen boosted their price target on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Lake Street Capital raised their price objective on Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler assumed coverage on Opera in a report on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $24.80.

Opera Stock Down 4.8 %

The stock has a market capitalization of $1.80 billion, a P/E ratio of 10.32 and a beta of 1.04. The firm’s 50-day simple moving average is $19.13 and its 200 day simple moving average is $17.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10.

Opera Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, January 13th. Investors of record on Monday, January 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a dividend yield of 3.9%. Opera’s dividend payout ratio is presently 39.59%.

Institutional Investors Weigh In On Opera

A number of institutional investors and hedge funds have recently modified their holdings of the company. Penn Mutual Asset Management bought a new position in shares of Opera during the 3rd quarter worth approximately $952,000. Rockefeller Capital Management L.P. increased its holdings in shares of Opera by 44.0% in the third quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock valued at $4,249,000 after purchasing an additional 84,001 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Opera by 62.4% during the 3rd quarter. Tidal Investments LLC now owns 670,140 shares of the company’s stock worth $10,354,000 after buying an additional 257,469 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Opera during the 3rd quarter worth about $888,000. Finally, SG Americas Securities LLC acquired a new position in Opera in the 4th quarter valued at about $530,000. 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.