Opera (NASDAQ:OPRA) Trading 7.5% Higher - Still a Buy?

Key Points

• Opera shares jumped 7.5% in Tuesday trading, reaching an intraday high of $20.21 after closing at $18.80, though volume came in below average.
• Analyst sentiment is mixed but leans positive: Opera currently has a “Moderate Buy” consensus with a target price of $21.50, even as some firms recently downgraded or reiterated hold ratings.
• The company recently declared a $0.40 dividend to be paid on July 15, while insider and institutional activity remains notable, including CEO Lin Song’s sale of 44,400 shares in June.

Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) rose 7.5% during trading on Tuesday . The stock traded as high as $20.21 and last traded at $20.2160. 488,575 shares were traded during mid-day trading, a decline of 13% from the average session volume of 561,785 shares. The stock had previously closed at $18.80.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OPRA shares. Zacks Research cut shares of Opera from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Wall Street Zen raised shares of Opera from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Opera in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.50.

Opera Stock Performance

The company has a market cap of $1.81 billion, a price-to-earnings ratio of 16.05 and a beta of 1.31. The firm has a fifty day moving average price of $18.57 and a 200 day moving average price of $15.88.

Opera Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, July 7th. This represents a yield of 407.0%. Opera's dividend payout ratio (DPR) is currently 61.90%.

Insider Activity at Opera

In other news, CEO Lin Song sold 44,400 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $18.52, for a total transaction of $822,288.00. Following the transaction, the chief executive officer directly owned 120,846 shares in the company, valued at $2,238,067.92. The trade was a 26.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 84.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Opera

A number of hedge funds and other institutional investors have recently bought and sold shares of OPRA. Parallel Advisors LLC raised its stake in Opera by 459.5% in the first quarter. Parallel Advisors LLC now owns 3,038 shares of the company's stock valued at $43,000 after buying an additional 2,495 shares during the period. State of Tennessee Department of Treasury bought a new stake in Opera in the 2nd quarter valued at $83,000. GAMMA Investing LLC lifted its holdings in Opera by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 6,904 shares of the company's stock valued at $137,000 after purchasing an additional 652 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in Opera during the 1st quarter valued at $141,000. Finally, Quent Capital LLC bought a new position in Opera during the fourth quarter worth $212,000. 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.

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