Opera Limited (NASDAQ:OPRA) Receives Average Recommendation of “Buy” from Analysts

Shares of Opera Limited (NASDAQ:OPRA) have earned an average recommendation of “Buy” from the five analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.80.

Separately, 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 target on the stock.

Opera Price Performance

NASDAQ OPRA opened at $17.51 on Friday. The company’s 50 day moving average is $18.93 and its two-hundred day moving average is $17.51. Opera has a 12 month low of $10.11 and a 12 month high of $22.50. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 8.89 and a beta of 1.12. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera Announces Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, January 6th were given a dividend of $0.40 per share. The ex-dividend date was Monday, January 6th. This represents a yield of 3.9%. Opera’s dividend payout ratio (DPR) is presently 85.71%.

Hedge Funds Weigh In On Opera

A number of large investors have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new position in Opera in the 4th quarter worth $355,000. JT Stratford LLC lifted its position in shares of Opera by 15.3% in the fourth quarter. JT Stratford LLC now owns 106,890 shares of the company’s stock valued at $2,024,000 after acquiring an additional 14,207 shares in the last quarter. Voloridge Investment Management LLC raised its holdings in Opera by 233.3% in the 4th quarter. Voloridge Investment Management LLC now owns 111,255 shares of the company’s stock valued at $2,107,000 after acquiring an additional 77,875 shares during the last quarter. Vident Advisory LLC grew its holdings in 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. Finally, Tidal Investments LLC grew its stake in shares of Opera by 75.6% in the 4th quarter. Tidal Investments LLC now owns 1,176,565 shares of the company’s stock valued at $22,284,000 after buying an additional 506,425 shares during the period. 10.21% of the stock is owned by institutional investors and hedge funds.

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.