Opera Limited Sponsored ADR (NASDAQ:OPRA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Opera Limited Sponsored ADR (NASDAQ:OPRA) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.50.

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Opera from $24.50 to $21.50 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Zacks Research raised Opera from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Opera in a research note on Monday, December 29th.

Opera Stock Up 2.5%

NASDAQ:OPRA opened at $14.18 on Thursday. The firm has a market capitalization of $1.27 billion, a P/E ratio of 15.76 and a beta of 1.24. Opera has a twelve month low of $12.62 and a twelve month high of $22.50. The company has a fifty day moving average of $13.92 and a 200-day moving average of $15.75.

Opera Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, January 7th were given a dividend of $0.40 per share. 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

Several hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Opera by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock valued at $2,453,000 after purchasing an additional 30,662 shares in the last quarter. Harvey Capital Management Inc. grew its holdings in shares of Opera by 171.8% during the third quarter. Harvey Capital Management Inc. now owns 100,025 shares of the company’s stock valued at $2,065,000 after buying an additional 63,225 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Opera during the first quarter worth about $270,000. IFP Advisors Inc raised its holdings in shares of Opera by 127.0% in the 3rd quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock worth $234,000 after acquiring an additional 6,350 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new position in Opera in the 2nd quarter valued at about $83,000. 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.