Opera (NASDAQ:OPRA) Trading 6% Higher - Time to Buy?

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA - Get Free Report) shot up 6% during mid-day trading on Tuesday . The stock traded as high as $20.12 and last traded at $20.04. 177,665 shares were traded during trading, a decline of 65% from the average session volume of 514,585 shares. The stock had previously closed at $18.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Lake Street Capital boosted their price objective on 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 price target on Opera from $26.00 to $22.50 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Wall Street Zen raised Opera from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Opera has a consensus rating of "Buy" and an average target price of $24.90.

Opera Stock Performance

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 $17.93 and its 200-day simple moving average is $17.91. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 21.63 and a beta of 0.98.

Opera (NASDAQ:OPRA - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. The business had revenue of $142.72 million for the quarter, compared to the consensus estimate of $132.48 million. Opera had a return on equity of 9.21% and a net margin of 16.15%. During the same quarter in the prior year, the business posted $0.34 earnings per share. Analysts forecast that Opera Limited Sponsored ADR will post 0.81 earnings per share for the current fiscal year.

Opera Dividend Announcement

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

Institutional Investors Weigh In On Opera

Institutional investors and hedge funds have recently bought and sold shares of the company. Vident Advisory LLC raised its position in shares of Opera by 11.0% in the 4th quarter. Vident Advisory LLC now owns 16,056 shares of the company's stock valued at $304,000 after buying an additional 1,596 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Opera by 64.9% during the fourth 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 stake in Opera during the fourth quarter worth $201,000. Raymond James Financial Inc. acquired a new stake in shares of Opera in the 4th quarter valued at $1,634,000. Finally, GAMMA Investing LLC increased its stake in shares of Opera by 1,172.0% in the 1st quarter. GAMMA Investing LLC now owns 43,628 shares of the company's stock valued at $695,000 after purchasing an additional 40,198 shares during the last quarter. Institutional investors own 10.21% of the company's stock.

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.