Opera (NASDAQ:OPRA) Shares Gap Up – Should You Buy?

Opera Limited Sponsored ADR (NASDAQ:OPRA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $12.42, but opened at $13.86. Opera shares last traded at $14.49, with a volume of 986,859 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OPRA shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Opera in a research report on Monday, December 29th. The Goldman Sachs Group lowered their price objective on Opera from $24.50 to $21.50 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, Zacks Research upgraded Opera from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Opera presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Opera Trading Up 16.7%

The company has a market capitalization of $1.30 billion, a PE ratio of 16.19 and a beta of 1.23. The business’s 50-day simple moving average is $13.91 and its two-hundred day simple moving average is $15.65.

Opera Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, January 14th. Shareholders of record on Wednesday, January 7th were given a $0.40 dividend. This represents a dividend yield of 554.0%. The ex-dividend date of this dividend was Wednesday, January 7th. Opera’s dividend payout ratio is presently 86.67%.

Institutional Trading of Opera

A number of hedge funds have recently made changes to their positions in OPRA. Goldman Sachs Group Inc. raised its holdings in Opera by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock valued at $2,453,000 after acquiring an additional 30,662 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Opera in the 1st quarter worth about $270,000. State of Tennessee Department of Treasury acquired a new stake in shares of Opera in the 2nd quarter valued at about $83,000. Harvey Capital Management Inc. grew its stake in Opera by 171.8% in the third quarter. Harvey Capital Management Inc. now owns 100,025 shares of the company’s stock worth $2,065,000 after purchasing an additional 63,225 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Opera by 37.8% during the 3rd quarter. Huntington National Bank now owns 3,305 shares of the company’s stock worth $68,000 after buying an additional 906 shares during the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

About Opera

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.