Opera (NASDAQ:OPRA) Shares Gap Up – What’s Next?

Opera Limited (NASDAQ:OPRA) 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.

Analyst Ratings Changes

OPRA has been the topic of several recent research reports. TD Cowen upped their target price on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler initiated coverage on Opera in a research report on Wednesday. They set an “overweight” rating and a $25.00 price objective on the stock. B. Riley reissued 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 raised their price target on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Lake Street Capital raised their price target on Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.80.

Opera Price Performance

The firm has a 50 day simple moving average of $18.76 and a 200-day simple moving average of $16.43. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.74 billion, a PE ratio of 9.99 and a beta of 1.04.

Opera Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, January 13th. Stockholders 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 dividend yield of 3.9%. Opera’s payout ratio is currently 39.59%.

Hedge Funds Weigh In On Opera

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Opera by 135.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after buying an additional 1,186 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Opera by 2.7% during the 3rd quarter. Inspire Investing LLC now owns 58,080 shares of the company’s stock valued at $897,000 after purchasing an additional 1,539 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Opera by 334.7% in the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock valued at $65,000 after purchasing an additional 3,216 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Opera by 30.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,700 shares of the company’s stock worth $212,000 after acquiring an additional 3,200 shares during the period. Finally, Calton & Associates Inc. acquired a new stake in Opera in the third quarter valued at approximately $218,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

About Opera

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.