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

Opera Limited Sponsored ADR (NASDAQ:OPRA) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.75.

Several analysts have issued reports on the stock. Zacks Research upgraded shares of Opera from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. The Goldman Sachs Group lowered their price objective on Opera from $24.50 to $21.50 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Opera in a research report on Monday, December 29th.

Institutional Investors Weigh In On Opera

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased 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 worth $2,453,000 after buying an additional 30,662 shares during the last quarter. Harvey Capital Management Inc. lifted its holdings in shares of Opera by 0.9% during the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after acquiring an additional 925 shares during the last quarter. Janney Montgomery Scott LLC grew its position in 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 acquiring an additional 68,549 shares in the last quarter. Handelsbanken Fonder AB bought a new position in Opera in the fourth quarter valued at $355,000. Finally, Caxton Associates LLP bought a new position in Opera in the first quarter valued at $270,000. 10.21% of the stock is currently owned by institutional investors.

Opera Stock Down 0.9%

Shares of NASDAQ OPRA opened at $12.29 on Monday. The company has a market cap of $1.10 billion, a P/E ratio of 13.66 and a beta of 1.23. Opera has a 52 week low of $11.71 and a 52 week high of $21.06. The business has a 50-day simple moving average of $13.60 and a two-hundred day simple moving average of $15.20.

Opera Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 14th. Stockholders of record on Wednesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a dividend yield of 554.0%. Opera’s payout ratio is presently 86.67%.

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.