Analysts Set Opera Limited Sponsored ADR (NASDAQ:OPRA) PT at $22.75

Opera Limited Sponsored ADR (NASDAQ:OPRA) has been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.75.

A number of research firms have commented on OPRA. The Goldman Sachs Group lowered their target price on shares of Opera from $24.50 to $21.50 and set a “buy” rating for the company in a report on Tuesday, January 13th. Zacks Research raised Opera from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Opera in a research note on Monday, December 29th.

Opera Trading Up 1.2%

Shares of NASDAQ OPRA opened at $12.49 on Monday. Opera has a 1 year low of $11.71 and a 1 year high of $21.06. The firm’s 50-day moving average is $13.49 and its 200-day moving average is $15.13. The firm has a market capitalization of $1.12 billion, a PE ratio of 13.88 and a beta of 1.23.

Opera Announces Dividend

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

Institutional Investors Weigh In On Opera

Hedge funds have recently bought and sold shares of the company. Huntington National Bank grew its holdings in shares of Opera by 37.8% in the 3rd quarter. Huntington National Bank now owns 3,305 shares of the company’s stock valued at $68,000 after buying an additional 906 shares during the period. Harvey Capital Management Inc. raised its stake in 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 buying an additional 925 shares during the period. Foster Dykema Cabot & Partners LLC bought a new position in Opera during the third quarter worth about $42,000. State of Tennessee Department of Treasury bought a new position in Opera during the second quarter worth about $83,000. Finally, IFP Advisors Inc grew its stake in Opera by 127.0% in the third quarter. IFP Advisors Inc now owns 11,350 shares of the company’s stock valued at $234,000 after acquiring an additional 6,350 shares during the period. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.