Opera Limited Sponsored ADR (NASDAQ:OPRA) Receives Average Rating of "Buy" from Brokerages

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) have earned a consensus recommendation of "Buy" from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $24.90.

A number of analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a report on Monday, April 14th. Lake Street Capital increased their price objective on shares of Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of Opera from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Finally, Wedbush reissued an "outperform" rating on shares of Opera in a research note on Tuesday.

Hedge Funds Weigh In On Opera

Large investors have recently made changes to their positions in the business. Vident Advisory LLC boosted its position in shares of Opera by 11.0% during the 4th quarter. Vident Advisory LLC now owns 16,056 shares of the company's stock valued at $304,000 after purchasing an additional 1,596 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Opera by 24.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,000 shares of the company's stock valued at $271,000 after purchasing an additional 3,300 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Opera by 64.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 121,069 shares of the company's stock valued at $2,293,000 after purchasing an additional 47,652 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Opera during the 4th quarter valued at about $201,000. Finally, Raymond James Financial Inc. bought a new position in shares of Opera during the 4th quarter valued at about $1,634,000. Institutional investors own 10.21% of the company's stock.

Opera Stock Performance

Shares of NASDAQ:OPRA traded down $1.27 on Friday, reaching $18.44. 1,076,923 shares of the company's stock were exchanged, compared to its average volume of 517,118. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.62 and a beta of 0.98. Opera has a fifty-two week low of $10.11 and a fifty-two week high of $22.50. The business's 50-day moving average is $18.44 and its two-hundred day moving average is $17.93. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.01.

Opera (NASDAQ:OPRA - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. Opera had a net margin of 16.15% and a return on equity of 9.21%. The business had revenue of $142.72 million for the quarter, compared to analysts' expectations of $132.48 million. During the same quarter last year, the company earned $0.34 EPS. As a group, equities research analysts forecast that Opera will post 0.81 EPS for the current year.

Opera Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a yield of 4.1%. Opera's payout ratio is 82.98%.

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.