Opera (NASDAQ:OPRA) Sets New 52-Week High – Here’s Why

Opera Limited (NASDAQ:OPRA) reached a new 52-week high during trading on Monday . The company traded as high as $21.37 and last traded at $21.07, with a volume of 116263 shares traded. The stock had previously closed at $20.48.

Analyst Upgrades and Downgrades

OPRA has been the topic of several recent analyst reports. TD Cowen lifted their price objective on Opera from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of Opera from $19.50 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Lake Street Capital raised their price objective on shares of Opera from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. B. Riley reaffirmed a “buy” rating and issued a $25.00 price objective (up from $24.00) on shares of Opera in a research report on Wednesday, October 30th. Finally, Piper Sandler started coverage on Opera in a report on Wednesday, February 5th. They set an “overweight” rating and a $25.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $24.80.

Opera Stock Down 1.4 %

The stock’s fifty day moving average price is $18.79 and its 200-day moving average price is $16.64. The company has a market capitalization of $1.88 billion, a price-to-earnings 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 firm also recently declared a semi-annual dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, January 6th were paid a $0.40 dividend. The ex-dividend date was Monday, January 6th. This represents a yield of 3.9%. Opera’s payout ratio is currently 39.59%.

Hedge Funds Weigh In On Opera

Large investors have recently modified their holdings of the business. US Bancorp DE raised its holdings in Opera by 2,065.1% during the fourth quarter. US Bancorp DE now owns 1,364 shares of the company’s stock worth $26,000 after acquiring an additional 1,301 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Opera by 74.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock worth $30,000 after purchasing an additional 674 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Opera by 135.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,062 shares of the company’s stock valued at $32,000 after buying an additional 1,186 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of Opera in the third quarter valued at $61,000. Finally, Blue Trust Inc. increased its holdings in Opera by 334.7% during the third quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after buying an additional 3,216 shares during the last quarter. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.