Opera Limited Sponsored ADR (NASDAQ:OPRA) Receives $21.50 Consensus Price Target from Brokerages

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) have earned an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $24.75.

A number of brokerages have recently commented on OPRA. Weiss Ratings reissued a “hold (c+)” rating on shares of Opera in a report on Wednesday, July 8th. B. Riley Financial lifted their target price on shares of Opera from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen cut Opera from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd.

Opera Stock Performance

NASDAQ OPRA opened at $19.47 on Thursday. Opera has a one year low of $11.71 and a one year high of $21.06. The stock has a 50-day moving average of $19.33 and a 200 day moving average of $17.14. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 14.01 and a beta of 1.32.

Opera Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, July 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a dividend yield of 407.0%. Opera’s payout ratio is presently 56.12%.

Insiders Place Their Bets

In other Opera news, CEO Lin Song sold 44,400 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $18.52, for a total value of $822,288.00. Following the transaction, the chief executive officer owned 120,846 shares of the company’s stock, valued at approximately $2,238,067.92. This represents a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 84.36% of the company’s stock.

Hedge Funds Weigh In On Opera

Institutional investors have recently made changes to their positions in the business. North Star Asset Management Inc. bought a new stake in Opera during the second quarter valued at approximately $238,000. Handelsbanken Fonder AB raised its position in Opera by 20.7% in the second quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock worth $601,000 after acquiring an additional 5,200 shares during the period. GAMMA Investing LLC boosted its stake in shares of Opera by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 6,904 shares of the company’s stock worth $137,000 after acquiring an additional 652 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Opera by 459.5% during the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after acquiring an additional 2,495 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its position in shares of Opera by 35.3% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 29,146 shares of the company’s stock valued at $416,000 after acquiring an additional 7,607 shares during the period. Institutional investors own 10.21% of the company’s stock.

Opera Company Profile

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.