Opera (NASDAQ:OPRA) Reaches New 1-Year High – Here’s Why

Shares of Opera Limited (NASDAQ:OPRA) 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. The stock had previously closed at $20.48.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $25.00 price target (up previously from $24.00) on shares of Opera in a report on Wednesday, October 30th. Lake Street Capital upped their price target 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. Piper Sandler started coverage on Opera in a report on Wednesday, February 5th. They set an “overweight” rating and a $25.00 price objective for the company. The Goldman Sachs Group boosted their price target on Opera from $19.50 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen increased 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. 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 a consensus target price of $24.80.

Opera Trading Up 5.7 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.96 and a beta of 1.04. The firm has a fifty day moving average price of $18.77 and a 200-day moving average price of $16.57.

Opera Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, January 6th were given 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 payout ratio is presently 39.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OPRA. Handelsbanken Fonder AB boosted its holdings in shares of Opera by 2.8% in the 4th quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock valued at $415,000 after purchasing an additional 600 shares in the last quarter. Jones Financial Companies Lllp boosted 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 buying an additional 674 shares in the last quarter. State Street Corp grew its position 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 acquiring an additional 832 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Opera by 14.4% in the third quarter. National Bank of Canada FI now owns 9,333 shares of the company’s stock worth $144,000 after acquiring an additional 1,175 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 purchasing an additional 1,186 shares during the last quarter. 10.21% of the stock is owned by institutional investors.

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.