Opera (NASDAQ:OPRA) Hits New 12-Month High - Time to Buy?

Opera Limited (NASDAQ:OPRA - Get Free Report) shares reached a new 52-week high 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OPRA. 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 research note on Wednesday, October 30th. B. Riley restated a "buy" rating and set a $25.00 target price (up previously from $24.00) on shares of Opera in a research report on Wednesday, October 30th. TD Cowen lifted their price target on shares of Opera from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Lake Street Capital increased their price target on Opera from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler initiated coverage on Opera in a report on Wednesday, February 5th. They issued an "overweight" rating and a $25.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $24.80.

Opera Price Performance

The company's 50-day moving average is $18.85 and its 200-day moving average is $16.73. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 11.05 and a beta of 1.04. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Opera Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, January 6th were issued a $0.40 dividend. This represents a dividend yield of 3.9%. The ex-dividend date was Monday, January 6th. Opera's dividend payout ratio is presently 39.59%.

Institutional Trading of Opera

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Opera in the fourth quarter valued at about $1,634,000. Wells Fargo & Company MN grew its holdings in shares of Opera by 12.3% during the 4th quarter. Wells Fargo & Company MN now owns 66,620 shares of the company's stock valued at $1,262,000 after purchasing an additional 7,291 shares during the last quarter. National Bank of Canada FI increased its position in Opera by 33.5% during the 4th quarter. National Bank of Canada FI now owns 12,455 shares of the company's stock worth $236,000 after purchasing an additional 3,122 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Opera by 7.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 931,594 shares of the company's stock valued at $17,644,000 after purchasing an additional 61,051 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Opera in the fourth quarter valued at approximately $213,000. 10.21% of the stock is currently owned by institutional investors.

About Opera

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.