Opera (NASDAQ:OPRA) Reaches New 1-Year High – Should You Buy?

Opera Limited (NASDAQ:OPRA)’s share price reached 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 changing hands. The stock had previously closed at $21.86.

Analysts Set New Price Targets

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

Opera Stock Down 4.8 %

The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 10.32 and a beta of 1.04. The business’s 50-day moving average is $19.13 and its 200-day 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. Stockholders of record on Monday, January 6th were paid a $0.40 dividend. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, January 6th. Opera’s dividend payout ratio (DPR) is currently 39.59%.

Institutional Investors Weigh In On Opera

A number of hedge funds and other institutional investors have recently bought and sold shares of OPRA. Penn Mutual Asset Management bought a new stake in shares of Opera during the third quarter worth $952,000. Rockefeller Capital Management L.P. increased its position in Opera by 44.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 275,034 shares of the company’s stock valued at $4,249,000 after acquiring an additional 84,001 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Opera by 62.4% in the third quarter. Tidal Investments LLC now owns 670,140 shares of the company’s stock worth $10,354,000 after acquiring an additional 257,469 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Opera in the third quarter worth about $888,000. Finally, SG Americas Securities LLC bought a new stake in shares of Opera during the fourth quarter valued at approximately $530,000. 10.21% of the stock is owned by institutional investors and hedge funds.

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.