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

Opera Limited (NASDAQ:OPRA)’s stock 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.

Wall Street Analyst Weigh In

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

Opera Stock Up 5.1 %

The firm has a market cap of $1.67 billion, a P/E ratio of 9.59 and a beta of 1.04. 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 firm has a fifty day moving average of $18.75 and a 200-day moving average of $16.40.

Opera Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Monday, January 13th. Investors of record on Monday, January 6th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, January 6th. This represents a yield of 3.9%. Opera’s payout ratio is presently 39.59%.

Institutional Trading of Opera

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB raised its holdings in Opera by 2.8% during the fourth quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock worth $415,000 after acquiring an additional 600 shares in the last quarter. State Street Corp raised its stake in Opera by 5.1% in the third quarter. State Street Corp now owns 17,129 shares of the company’s stock valued at $265,000 after buying an additional 832 shares during the period. National Bank of Canada FI raised its stake in Opera by 14.4% in the third quarter. National Bank of Canada FI now owns 9,333 shares of the company’s stock valued at $144,000 after buying an additional 1,175 shares during the period. GAMMA Investing LLC raised its stake in Opera by 135.4% in the third 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 period. Finally, Inspire Investing LLC raised its stake in Opera by 2.7% in the third quarter. Inspire Investing LLC now owns 58,080 shares of the company’s stock valued at $897,000 after buying an additional 1,539 shares during the period. 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.