Opera (NASDAQ:OPRA) Issues Earnings Results

Opera (NASDAQ:OPRA) released its earnings results on Thursday. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02, reports. Opera had a net margin of 41.00% and a return on equity of 19.81%. The company had revenue of $101.87 million for the quarter, compared to analysts’ expectations of $100.60 million. Opera updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Opera Trading Down 1.9 %

Opera stock opened at $13.34 on Friday. The stock has a market cap of $1.18 billion, a P/E ratio of 7.10 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 4.69. Opera has a 1 year low of $9.40 and a 1 year high of $28.58. The firm’s 50 day moving average price is $14.37 and its 200-day moving average price is $12.67.

Wall Street Analyst Weigh In

A number of research firms have commented on OPRA. TheStreet upgraded shares of Opera from a “c+” rating to a “b-” rating in a research note on Monday, March 4th. TD Cowen lifted their price objective on shares of Opera from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, March 1st.

Institutional Investors Weigh In On Opera

Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. purchased a new position in shares of Opera in the third quarter valued at $190,327,000. Hudson Bay Capital Management LP purchased a new position in shares of Opera in the third quarter valued at $3,842,000. Walleye Capital LLC purchased a new position in shares of Opera in the third quarter valued at $3,652,000. Monashee Investment Management LLC purchased a new position in shares of Opera in the third quarter valued at $3,381,000. Finally, Toroso Investments LLC purchased a new position in shares of Opera in the third quarter valued at $3,009,000. Institutional investors own 10.21% of the company’s stock.

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.