Opera (NASDAQ:OPRA) Sets New 1-Year High - Should You Buy?

Opera Limited (NASDAQ:OPRA - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $22.20 and last traded at $22.22, with a volume of 4061 shares changing hands. The stock had previously closed at $21.86.

Analyst Ratings Changes

Several brokerages have recently issued reports on OPRA. B. Riley reiterated a "buy" rating and issued a $25.00 target price (up previously from $24.00) on shares of Opera in a research report on Wednesday, October 30th. Piper Sandler began coverage on shares of Opera in a research report on Wednesday, February 5th. They issued an "overweight" rating and a $25.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Opera from $19.50 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. TD Cowen lifted their target price 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. Finally, Lake Street Capital boosted their price target on shares of Opera from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Opera presently has an average rating of "Buy" and an average price target of $24.80.

Opera Stock Performance

The company has a market cap of $1.73 billion, a PE ratio of 9.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The firm's 50 day moving average is $19.14 and its 200-day moving average is $17.15.

Opera Announces Dividend

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

Institutional Trading of Opera

Several hedge funds have recently made changes to their positions in the company. Marshall Wace LLP grew its stake in shares of Opera by 99.7% in the 4th quarter. Marshall Wace LLP now owns 1,460,201 shares of the company's stock valued at $27,656,000 after buying an additional 729,001 shares during the period. Tidal Investments LLC grew its stake in shares of Opera by 75.6% in the 4th quarter. Tidal Investments LLC now owns 1,176,565 shares of the company's stock valued at $22,284,000 after buying an additional 506,425 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of 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 buying an additional 61,051 shares during the period. Portolan Capital Management LLC grew its stake in shares of Opera by 5.1% in the 4th quarter. Portolan Capital Management LLC now owns 748,349 shares of the company's stock valued at $14,174,000 after buying an additional 36,529 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Opera in the 4th quarter valued at approximately $10,646,000. Hedge funds and other institutional investors own 10.21% of the company's stock.

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.