Opera Limited, together with its subsidiaries, provides mobile and PC web browsers and related products and services in Ireland, Singapore, the United States, and internationally.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price18.13 USD
Fair value32.50
Ethical score70.0/100
Our investment reviews on this name
2026-09-08Read Markdown19.41-6.6% to today ✓
2026-07-02Read Accumulation18.18-0.3% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Opera Limited holds its Markdown at $18.13. Consolidating, no directional conviction, held for 43 days.
As held on the ledger · 2026-09-21
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 43 days
Price at the screen
$18.13
Valuation
13.14 trailing · 10.14 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.24
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.74%
Below 33%
Interest-bearing debt is just 0.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
23.45%
Below 49%
Money owed to the company is 23.4% of assets, under the 49% limit.
Pass
Revenue purity
0.54%
Below 5%
Only 0.5% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. A 79.3% margin of safety to the base estimate.
Third-party analyst targets: 7 covering, consensus None. The average target sits +43% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Everyday browsers still face fierce competition
Millions open a browser each morning for work, news or a quick scroll, yet most never think about the company behind the tab. Opera keeps carving out space with its AI features and gaming-focused GX version in markets where Chrome does not own everything. The numbers show 23% revenue growth, an 18% profit margin and a forward multiple of just 11.1 times, numbers that look tidy on paper.
We still pass. The moat is unknown, return on equity sits at only 12% and the opportunity rating stays at none despite the 66% gap between the current price and our fair value. Analyst targets cluster around 26 dollars, but that does not change the lack of a clear edge we can underwrite with confidence.
Currency moves, browser market share battles and the risk that bigger platforms copy the features keep the downside real. Without stronger proof of durable advantage the valuation gap alone is not enough to move the needle. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Norway and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
OPRA trades on Nasdaq (the company is based in Norway). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-08Markdown · changed$19.41+0.3%Entry 5
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (7 analysts) rates it none, with a mean price target of $26.
2026-08-07Accumulation$19.36+6.5%Entry 4
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 6.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (7 analysts) rates it none, with a mean price target of $26.
2026-07-18Accumulation$18.18+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (7 analysts) rates it none, with a mean price target of $26.
2026-07-03Accumulation$18.18+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$18.18Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
