Opera (NASDAQ:OPRA) Shares Gap Up - What's Next?

Opera Limited (NASDAQ:OPRA - Get Free Report) 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 changing hands.

Wall Street Analyst Weigh In

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

Opera Stock Performance

The company has a 50-day moving average of $18.95 and a 200-day moving average of $15.64. The company has a market cap of $1.73 billion, a PE ratio of 9.92 and a beta of 1.03. 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 Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Opera by 66.3% in the 4th quarter. GAMMA Investing LLC now owns 3,430 shares of the company's stock valued at $65,000 after buying an additional 1,368 shares during the last quarter. Tidal Investments LLC increased its position in shares of Opera by 62.4% during the third quarter. Tidal Investments LLC now owns 670,140 shares of the company's stock valued at $10,354,000 after acquiring an additional 257,469 shares during the last quarter. XTX Topco Ltd bought a new stake in Opera during the third quarter worth $187,000. National Bank of Canada FI boosted its position in Opera by 14.4% in the third quarter. National Bank of Canada FI now owns 9,333 shares of the company's stock worth $144,000 after purchasing an additional 1,175 shares during the last quarter. Finally, State Street Corp grew its stake in Opera by 5.1% in the 3rd quarter. State Street Corp now owns 17,129 shares of the company's stock valued at $265,000 after purchasing an additional 832 shares during the period. 10.21% of the stock is owned by institutional investors.

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.