Opera (NASDAQ:OPRA) Trading Up 6% – Here’s Why

Opera Limited Sponsored ADR (NASDAQ:OPRA)’s share price was up 6% during mid-day trading on Tuesday . The company traded as high as $20.12 and last traded at $20.04. Approximately 177,665 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 514,585 shares. The stock had previously closed at $18.90.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Lake Street Capital increased their target price on Opera from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Opera from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Finally, The Goldman Sachs Group dropped their price target on shares of Opera from $26.00 to $22.50 and set a “buy” rating for the company in a research report on Monday, April 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.90.

Opera Stock Performance

The business has a fifty day simple moving average of $17.81 and a two-hundred day simple moving average of $17.90. The company has a market cap of $1.84 billion, a PE ratio of 21.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 2.17.

Opera (NASDAQ:OPRA) last issued its earnings results on Monday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $142.72 million during the quarter, compared to analyst estimates of $132.48 million. Opera had a return on equity of 9.21% and a net margin of 16.15%. During the same quarter last year, the business posted $0.34 EPS. Research analysts anticipate that Opera Limited Sponsored ADR will post 0.81 earnings per share for the current year.

Opera Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be given a $0.40 dividend. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, July 8th. Opera’s dividend payout ratio (DPR) is 82.98%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB raised its position in Opera by 2.8% in the fourth quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock valued at $415,000 after purchasing an additional 600 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Opera in the 4th quarter valued at about $1,985,000. US Bancorp DE lifted its position in shares of Opera by 2,065.1% during the 4th quarter. US Bancorp DE now owns 1,364 shares of the company’s stock worth $26,000 after buying an additional 1,301 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Opera by 74.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after acquiring an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Opera during the fourth quarter worth approximately $133,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

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.