Opera (NASDAQ:OPRA) Reaches New 12-Month High – What’s Next?

Opera Limited (NASDAQ:OPRA) shares reached a new 52-week high on Monday . The company traded as high as $21.37 and last traded at $21.07, with a volume of 116263 shares traded. The stock had previously closed at $20.48.

Analysts Set New Price Targets

Several research firms have recently issued reports on OPRA. The Goldman Sachs Group raised their price target on shares of Opera from $19.50 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on Opera from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Lake Street Capital increased their price target on Opera from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler assumed coverage on Opera in a research note on Wednesday, February 5th. They issued an “overweight” rating and a $25.00 price objective on the stock. Finally, 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $24.80.

Opera Trading Up 5.7 %

The firm has a 50-day moving average of $18.77 and a 200 day moving average of $16.57. The company has a market cap of $1.92 billion, a P/E ratio of 10.96 and a beta of 1.04. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

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 $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 currently 39.59%.

Institutional Investors Weigh In On Opera

Large investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its position in shares of Opera by 2.8% during the 4th quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock worth $415,000 after purchasing an additional 600 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Opera by 74.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after acquiring an additional 674 shares during the period. State Street Corp increased its holdings in shares of Opera by 5.1% during the third quarter. State Street Corp now owns 17,129 shares of the company’s stock valued at $265,000 after acquiring an additional 832 shares in the last quarter. National Bank of Canada FI raised its position in shares of Opera by 14.4% during the third quarter. National Bank of Canada FI now owns 9,333 shares of the company’s stock worth $144,000 after purchasing an additional 1,175 shares during the period. Finally, GAMMA Investing LLC grew its position in 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 purchasing an additional 1,186 shares during the period. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.