Opera (NASDAQ:OPRA) Shares Gap Up – Time to Buy?

Opera Limited (NASDAQ:OPRA)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $18.00, but opened at $18.67. Opera shares last traded at $18.96, with a volume of 184,472 shares changing hands.

Analysts Set New Price Targets

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

Opera Price Performance

The company’s fifty day simple moving average is $18.76 and its two-hundred day simple moving average is $16.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $1.74 billion, a PE ratio of 9.99 and a beta of 1.04.

Opera Announces Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, January 6th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a yield of 3.9%. Opera’s dividend payout ratio (DPR) is presently 39.59%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. US Bancorp DE raised its position in shares of Opera by 2,065.1% during the 4th quarter. US Bancorp DE now owns 1,364 shares of the company’s stock worth $26,000 after purchasing an additional 1,301 shares during the period. Jones Financial Companies Lllp increased its position in shares of Opera by 74.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after purchasing an additional 674 shares during the period. GAMMA Investing LLC raised its holdings in shares of Opera by 135.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock worth $32,000 after purchasing an additional 1,186 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Opera in the third quarter worth about $61,000. Finally, Blue Trust Inc. grew its position in Opera by 334.7% during the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after purchasing an additional 3,216 shares in the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

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.