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

Key Points

• Analyst sentiment is moderately bullish: Five brokerages give Opera an average “Moderate Buy” rating, with three buys and two holds. The average 12-month price target is $21.50, while B. Riley raised its target to $28.
• Opera exceeded quarterly expectations: The company reported adjusted EPS of $0.33 versus the $0.27 consensus and revenue of $178.11 million, slightly above estimates. Shares recently traded at $17.87, within a 12-month range of $11.71 to $21.06.
• Ownership activity was mixed: CEO Lin Song sold 44,400 shares, reducing his position by 26.87%, while several institutional investors increased or initiated holdings. Insiders own 84.36% of the stock, compared with 10.21% held by institutions.

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $21.50.

OPRA has been the topic of several research reports. B. Riley Financial reaffirmed a "buy" rating and set a $28.00 price target (up from $27.00) on shares of Opera in a report on Thursday. Zacks Research downgraded shares of Opera from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Opera from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Opera in a research note on Wednesday, July 8th.

Insiders Place Their Bets

In other Opera news, CEO Lin Song sold 44,400 shares of the company's 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 completion of the transaction, the chief executive officer owned 120,846 shares of the company's stock, valued at $2,238,067.92. This represents a 26.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 84.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OPRA. Parallel Advisors LLC grew its holdings in 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. State of Tennessee Department of Treasury acquired a new position in shares of Opera during the second quarter worth $83,000. GAMMA Investing LLC lifted its holdings in shares of Opera by 10.4% during the second quarter. GAMMA Investing LLC now owns 6,904 shares of the company's stock worth $137,000 after purchasing an additional 652 shares during the period. Ascentis Independent Advisors bought a new stake in shares of Opera in the first quarter worth $141,000. Finally, North Star Asset Management Inc. acquired a new stake in Opera in the second quarter valued at $238,000. Institutional investors and hedge funds own 10.21% of the company's stock.

Opera Price Performance

Shares of OPRA stock traded down $0.25 on Thursday, hitting $17.87. 64,242 shares of the company's stock were exchanged, compared to its average volume of 526,669. Opera has a 12 month low of $11.71 and a 12 month high of $21.06. The stock has a market cap of $1.60 billion, a P/E ratio of 14.18 and a beta of 1.32. The company has a 50 day moving average of $19.29 and a 200 day moving average of $16.93.

Opera (NASDAQ:OPRA - Get Free Report) last released its earnings results on Thursday, August 20th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.06. The firm had revenue of $178.11 million for the quarter, compared to analysts' expectations of $177.10 million. Opera had a return on equity of 8.54% and a net margin of 17.72%. Sell-side analysts predict that Opera will post 1.12 EPS for the current fiscal year.

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 dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a dividend yield of 407.0%. Opera's dividend payout ratio (DPR) is 61.90%.

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.

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