Analysts Set Opera Limited Sponsored ADR (NASDAQ:OPRA) Target Price at $24.90

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) have been assigned a consensus rating of "Buy" from the five research firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $24.90.

Several equities research analysts recently issued reports on the stock. Lake Street Capital raised their target price on shares of Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. The Goldman Sachs Group dropped their target price 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. Finally, Wall Street Zen upgraded shares of Opera from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th.

Opera Stock Performance

OPRA stock traded down $0.55 on Wednesday, hitting $18.03. The company had a trading volume of 699,584 shares, compared to its average volume of 511,751. Opera has a 12-month low of $10.11 and a 12-month high of $22.50. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. The stock's 50-day simple moving average is $17.35 and its 200 day simple moving average is $17.94. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 19.18 and a beta of 1.01.

Opera (NASDAQ:OPRA - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. Opera had a net margin of 16.15% and a return on equity of 9.21%. The company 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 posted $0.34 earnings per share. As a group, equities research analysts expect that Opera will post 0.81 earnings per share for the current fiscal year.

Opera Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Inspire Investing LLC purchased a new position in shares of Opera during the 1st quarter worth $695,000. Caxton Associates LLP bought a new stake in shares of Opera during the 1st quarter valued at $270,000. Goldman Sachs Group Inc. raised its position in shares of Opera by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company's stock valued at $2,453,000 after purchasing an additional 30,662 shares during the period. American Trust Investment Advisors LLC raised its position in shares of Opera by 0.9% during the 1st quarter. American Trust Investment Advisors LLC now owns 181,560 shares of the company's stock valued at $2,894,000 after purchasing an additional 1,683 shares during the period. Finally, Caption Management LLC bought a new stake in shares of Opera during the 1st quarter valued at $147,000. Hedge funds and other 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.