Opera Limited Sponsored ADR (NASDAQ:OPRA) Given Consensus Rating of “Moderate Buy” by Brokerages

Opera Limited Sponsored ADR (NASDAQ:OPRA) has been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $21.50.

Several research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Opera in a research report on Wednesday, July 8th. Zacks Research lowered Opera from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. B. Riley Financial reiterated a “buy” rating and issued a $28.00 price objective (up from $27.00) on shares of Opera in a research note on Thursday. Finally, Wall Street Zen raised shares of Opera from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th.

Opera Stock Down 1.4%

Opera stock traded down $0.25 during mid-day trading on Thursday, hitting $17.87. 64,242 shares of the stock were exchanged, compared to its average volume of 526,669. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 14.18 and a beta of 1.32. Opera has a 12 month low of $11.71 and a 12 month high of $21.06. The firm’s fifty day simple moving average is $19.29 and its two-hundred day simple moving average is $16.93.

Opera (NASDAQ:OPRA) last posted its quarterly earnings data on Thursday, August 20th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.06. The company had revenue of $178.11 million during the quarter, compared to analysts’ expectations of $177.10 million. Opera had a net margin of 17.72% and a return on equity of 8.54%. As a group, analysts forecast that Opera will post 1.12 earnings per share for the current fiscal year.

Opera Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, July 7th were paid a $0.40 dividend. The ex-dividend date was Tuesday, July 7th. This represents a dividend yield of 407.0%. Opera’s dividend payout ratio (DPR) is currently 61.90%.

Insiders Place Their Bets

In other Opera news, CEO Lin Song sold 44,400 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $18.52, for a total value of $822,288.00. Following the transaction, the chief executive officer owned 120,846 shares in the company, valued at approximately $2,238,067.92. This represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 84.36% of the company’s stock.

Hedge Funds Weigh In On Opera

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Opera by 24.9% during the first 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. increased its position in shares of Opera by 0.9% during the fourth 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 in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Opera by 305.1% in the 4th 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 during the last quarter. Handelsbanken Fonder AB lifted its position in Opera by 20.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock valued at $601,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT boosted its stake in Opera by 35.3% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 29,146 shares of the company’s stock valued at $416,000 after purchasing an additional 7,607 shares during the last quarter. 10.21% of the stock is currently owned by institutional investors.

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.