Opera Limited Sponsored ADR (NASDAQ:OPRA) Given Average Rating of "Buy" by Analysts

Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) has earned a consensus recommendation of "Buy" from the six research firms that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.90.

Several research analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a research report on Monday, April 14th. Wedbush reaffirmed an "outperform" rating on shares of Opera in a research note on Tuesday, July 8th. Lake Street Capital increased their target price on shares of Opera from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of Opera from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th.

Opera Price Performance

Shares of NASDAQ OPRA traded down $0.09 during midday trading on Friday, reaching $18.60. 358,045 shares of the company were exchanged, compared to its average volume of 516,912. Opera has a one year low of $10.11 and a one year high of $22.50. The stock has a market cap of $1.66 billion, a P/E ratio of 19.79 and a beta of 0.98. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $18.49 and its 200-day moving average price is $17.92.

Opera (NASDAQ:OPRA - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The firm had revenue of $142.72 million for the quarter, compared to analyst estimates of $132.48 million. Opera had a return on equity of 9.21% and a net margin of 16.15%. During the same period last year, the firm posted $0.34 earnings per share. On average, sell-side analysts anticipate that Opera will post 0.81 earnings per share for the current fiscal year.

Opera Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a yield of 4.1%. Opera's dividend payout ratio (DPR) is presently 82.98%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its stake in shares of Opera by 74.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company's stock worth $30,000 after purchasing an additional 674 shares during the last quarter. Signaturefd LLC grew its holdings in Opera by 26.5% during the fourth quarter. Signaturefd LLC now owns 5,406 shares of the company's stock worth $102,000 after buying an additional 1,134 shares in the last quarter. GAMMA Investing LLC raised its position in Opera by 46.7% in the 2nd quarter. GAMMA Investing LLC now owns 4,016 shares of the company's stock valued at $76,000 after buying an additional 1,279 shares during the last quarter. US Bancorp DE lifted its stake in Opera by 2,065.1% during the 4th quarter. US Bancorp DE now owns 1,364 shares of the company's stock valued at $26,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Opera by 5.4% during the 1st quarter. Cetera Investment Advisers now owns 30,116 shares of the company's stock valued at $480,000 after acquiring an additional 1,535 shares in the last quarter. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.