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

Opera Limited (NASDAQ:OPRA) gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

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

Opera Stock Up 5.1 %

The stock has a 50-day moving average of $18.75 and a 200-day moving average of $16.40. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 9.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Opera Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, January 6th were issued 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 is presently 39.59%.

Institutional Investors Weigh In On Opera

A number of large investors have recently modified their holdings of OPRA. GAMMA Investing LLC lifted its stake in shares of Opera by 135.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after acquiring an additional 1,186 shares during the last quarter. Larson Financial Group LLC bought a new position in Opera during the 3rd quarter worth $61,000. Blue Trust Inc. raised 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 during the last quarter. Quantbot Technologies LP bought a new position in Opera during the 3rd quarter worth $74,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Opera during the 4th quarter worth $81,000. 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.