Opera (NASDAQ:OPRA) Shares Gap Up Following Better-Than-Expected Earnings

Opera Limited (NASDAQ:OPRA) shares gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $18.36, but opened at $20.61. Opera shares last traded at $19.54, with a volume of 277,640 shares changing hands.

The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Opera had a net margin of 39.22% and a return on equity of 19.22%.

Opera Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Monday, January 13th. Investors of record on Monday, January 6th were paid a $0.40 dividend. The ex-dividend date was Monday, January 6th. This represents a yield of 3.9%. Opera’s dividend payout ratio (DPR) is currently 39.59%.

Analyst Ratings Changes

A number of research analysts recently commented on OPRA shares. 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. Piper Sandler assumed coverage on shares of Opera in a research report on Wednesday, February 5th. They set an “overweight” rating and a $25.00 target price on the stock. TD Cowen increased their target price on shares of Opera from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Lake Street Capital increased 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Opera currently has a consensus rating of “Buy” and a consensus price target of $24.80.

Institutional Trading of Opera

Several large investors have recently made changes to their positions in OPRA. US Bancorp DE boosted its position in shares of Opera by 2,065.1% during the 4th quarter. US Bancorp DE now owns 1,364 shares of the company’s stock worth $26,000 after acquiring an additional 1,301 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Opera by 74.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,580 shares of the company’s stock valued at $30,000 after purchasing an additional 674 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Opera by 229.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,222 shares of the company’s stock valued at $42,000 after purchasing an additional 1,548 shares during the last quarter. Larson Financial Group LLC bought a new position in Opera in the 3rd quarter valued at approximately $61,000. Finally, Blue Trust Inc. lifted its stake in Opera by 334.7% in the 3rd quarter. Blue Trust Inc. now owns 4,177 shares of the company’s stock valued at $65,000 after purchasing an additional 3,216 shares during the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

Opera Stock Performance

The firm has a market cap of $1.74 billion, a P/E ratio of 9.98 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 company’s 50 day moving average is $19.08 and its 200 day moving average is $17.32.

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.