Opera (NASDAQ:OPRA) Shares Gap Up – Time to Buy?

Shares of Opera Limited (NASDAQ:OPRA) gapped up before the market opened on Friday . The stock had previously closed at $19.18, but opened at $19.72. Opera shares last traded at $19.84, with a volume of 148,497 shares.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. B. Riley reissued a “buy” rating and issued a $25.00 price target (up from $24.00) on shares of Opera in a report on Wednesday, October 30th. TD Cowen increased their target price on Opera from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Lake Street Capital boosted their price target on Opera from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective on Opera from $19.50 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.75.

Opera Stock Down 0.1 %

The stock has a 50-day moving average of $18.89 and a 200 day moving average of $15.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market cap of $1.70 billion, a P/E ratio of 9.73 and a beta of 1.03.

Opera Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, January 6th will be given a $0.40 dividend. This represents a dividend yield of 3.9%. The ex-dividend date is Monday, January 6th. Opera’s payout ratio is presently 39.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OPRA. Allspring Global Investments Holdings LLC acquired a new stake in Opera in the second quarter valued at about $147,000. Ritholtz Wealth Management grew its holdings in shares of Opera by 9.6% during the 2nd quarter. Ritholtz Wealth Management now owns 18,284 shares of the company’s stock valued at $257,000 after purchasing an additional 1,595 shares during the last quarter. National Bank of Canada FI increased its position in Opera by 1,474.9% during the 2nd quarter. National Bank of Canada FI now owns 8,158 shares of the company’s stock worth $112,000 after purchasing an additional 7,640 shares in the last quarter. Caprock Group LLC bought a new position in Opera in the 2nd quarter valued at approximately $205,000. Finally, Redwood Wealth Management Group LLC boosted its position in Opera by 4.5% in the second quarter. Redwood Wealth Management Group LLC now owns 33,645 shares of the company’s stock valued at $472,000 after buying an additional 1,440 shares in the last quarter. 10.21% of the stock is owned by institutional investors.

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.