Opera (NASDAQ:OPRA) Shares Gap Up Following Better-Than-Expected Earnings

Opera Limited (NASDAQ:OPRA)’s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $18.36, but opened at $20.61. Opera shares last traded at $19.54, with a volume of 277,640 shares trading hands.

The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Opera had a net margin of 39.22% and a return on equity of 19.22%.

Opera Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, January 6th were issued a $0.40 dividend. This represents a yield of 3.9%. The ex-dividend date of this dividend was Monday, January 6th. Opera’s payout ratio is 39.59%.

Analyst Ratings Changes

A number of research firms have commented on OPRA. The Goldman Sachs Group raised their price target on shares of Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler started coverage on shares of Opera in a report on Wednesday, February 5th. They set an “overweight” rating and a $25.00 price objective for the company. Lake Street Capital lifted their price objective on shares of Opera from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. B. Riley reiterated a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Opera in a report on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on shares of Opera from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Opera presently has a consensus rating of “Buy” and an average target price of $24.80.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. US Bancorp DE lifted its position in shares of Opera by 2,065.1% during the fourth quarter. US Bancorp DE now owns 1,364 shares of the company’s stock valued at $26,000 after purchasing an additional 1,301 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Opera by 74.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after purchasing an additional 674 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Opera by 229.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company’s stock worth $42,000 after acquiring an additional 1,548 shares during the period. Larson Financial Group LLC bought a new stake in Opera in the third quarter worth about $61,000. Finally, Blue Trust Inc. raised its position in Opera by 334.7% in the third quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after acquiring an additional 3,216 shares during the period. 10.21% of the stock is owned by institutional investors.

Opera Trading Up 7.1 %

The firm has a market cap of $1.74 billion, a P/E ratio of 9.98 and a beta of 1.04. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $19.08 and its 200 day simple moving average is $17.32.

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.