Opera Limited Sponsored ADR (NASDAQ:OPRA) Given Average Recommendation of “Moderate Buy” by Analysts

Opera Limited Sponsored ADR (NASDAQ:OPRA) has been assigned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $21.50.

A number of equities research analysts have recently issued reports on OPRA shares. Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a report on Friday, March 27th. Wall Street Zen raised shares of Opera from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Zacks Research lowered shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, TD Cowen reissued a “buy” rating on shares of Opera in a report on Friday, March 13th.

Insider Transactions at Opera

In related news, CEO Lin Song sold 44,400 shares of Opera stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $18.52, for a total transaction of $822,288.00. Following the completion of the sale, the chief executive officer owned 120,846 shares of the company’s stock, valued at approximately $2,238,067.92. This trade represents a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 84.36% of the company’s stock.

Hedge Funds Weigh In On Opera

A number of institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in shares of Opera by 24.9% in the 1st 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. Harvey Capital Management Inc. grew its holdings in shares of Opera by 0.9% during the fourth quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after purchasing an additional 925 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Opera by 305.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock worth $1,289,000 after purchasing an additional 68,549 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of Opera by 35.3% in the first quarter. Bradley Foster & Sargent Inc. CT now owns 29,146 shares of the company’s stock worth $416,000 after purchasing an additional 7,607 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in Opera in the fourth quarter valued at approximately $355,000. 10.21% of the stock is currently owned by institutional investors.

Opera Stock Performance

Shares of NASDAQ OPRA opened at $18.85 on Friday. Opera has a fifty-two week low of $11.71 and a fifty-two week high of $21.06. The stock has a market cap of $1.69 billion, a PE ratio of 14.96 and a beta of 1.30. The stock has a fifty day moving average of $18.04 and a 200-day moving average of $15.45.

Opera (NASDAQ:OPRA) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $176.65 million for the quarter. Opera had a return on equity of 8.54% and a net margin of 17.72%. On average, sell-side analysts predict that Opera will post 1.12 EPS for the current year.

Opera Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, July 7th will be given a $0.40 dividend. This represents a dividend yield of 441.0%. The ex-dividend date is Tuesday, July 7th. Opera’s dividend payout ratio (DPR) is 61.90%.

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.