Opera (NASDAQ:OPRA) Shares Gap Up – Still a Buy?

Opera Limited (NASDAQ:OPRA) shares gapped up prior to trading on Friday . The stock had previously closed at $19.18, but opened at $19.72. Opera shares last traded at $19.84, with a volume of 148,497 shares trading hands.

Analyst Ratings Changes

OPRA has been the subject of several research analyst reports. Lake Street Capital upped their price target on shares of Opera from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. B. Riley reissued a “buy” rating and issued a $25.00 price target (up previously from $24.00) on shares of Opera in a research note on Wednesday, October 30th. TD Cowen increased their price objective on Opera from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price target on Opera from $19.50 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.75.

Opera Stock Down 0.1 %

The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 9.73 and a beta of 1.03. The firm has a 50-day moving average of $18.89 and a 200 day moving average of $15.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Opera Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, January 13th. Investors of record on Monday, January 6th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, January 6th. This represents a yield of 3.9%. Opera’s payout ratio is 39.59%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OPRA. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 1,186 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Opera in the third quarter valued at approximately $61,000. Blue Trust Inc. boosted its stake in shares of Opera by 334.7% during the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock worth $65,000 after acquiring an additional 3,216 shares during the period. Quantbot Technologies LP acquired a new position in shares of Opera during the 3rd quarter worth approximately $74,000. Finally, EverSource Wealth Advisors LLC bought a new stake in Opera in the 2nd quarter valued at $112,000. Institutional investors own 10.21% of the company’s stock.

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.