Opera (NASDAQ:OPRA) Hits New 1-Year High – What’s Next?

Opera Limited (NASDAQ:OPRA)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $21.37 and last traded at $21.07, with a volume of 116263 shares changing hands. The stock had previously closed at $20.48.

Analysts Set New Price Targets

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

Opera Stock Performance

The stock has a 50 day moving average price of $18.79 and a two-hundred day moving average price of $16.64. The company has a market cap of $1.88 billion, a P/E ratio of 10.79 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.

Opera Dividend Announcement

The company also recently disclosed 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. 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%.

Institutional Investors Weigh In On Opera

Institutional investors have recently modified their holdings of the business. Handelsbanken Fonder AB raised its stake in Opera by 2.8% in the 4th quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock worth $415,000 after purchasing an additional 600 shares in the last quarter. Jones Financial Companies Lllp increased its holdings 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 worth $30,000 after purchasing an additional 674 shares during the period. State Street Corp raised its position in shares of Opera by 5.1% in the third quarter. State Street Corp now owns 17,129 shares of the company’s stock valued at $265,000 after buying an additional 832 shares in the last quarter. Signaturefd LLC raised its position in shares of Opera by 26.5% in the fourth quarter. Signaturefd LLC now owns 5,406 shares of the company’s stock valued at $102,000 after buying an additional 1,134 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Opera by 14.4% in the third quarter. National Bank of Canada FI now owns 9,333 shares of the company’s stock valued at $144,000 after buying an additional 1,175 shares during the period. 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.