Opera (NASDAQ:OPRA) Trading 6% Higher - Should You Buy?

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OPRA. Wall Street Zen upgraded Opera from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. The Goldman Sachs Group decreased their price objective on Opera from $26.00 to $22.50 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Lake Street Capital increased their price objective on Opera from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Opera presently has an average rating of "Buy" and a consensus target price of $24.90.

Opera Trading Down 1.8%

The firm has a market capitalization of $1.76 billion, a P/E ratio of 20.98 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 firm has a 50 day moving average of $18.13 and a 200-day moving average of $17.93.

Opera (NASDAQ:OPRA - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The firm had revenue of $142.72 million during 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 period in the prior year, the company posted $0.34 EPS. On average, equities research analysts predict that Opera Limited Sponsored ADR 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 will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, July 8th. This represents a yield of 4.1%. Opera's payout ratio is 82.98%.

Institutional Trading of Opera

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