Opera (NASDAQ:OPRA) Releases Earnings Results, Beats Estimates By $0.02 EPS

Opera (NASDAQ:OPRA) issued 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. The business had revenue of $101.87 million for the quarter, compared to analyst estimates of $100.60 million. Opera had a net margin of 41.00% and a return on equity of 19.81%. Opera updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Opera Stock Performance

Shares of OPRA stock opened at $13.34 on Friday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 7.10 and a beta of 0.81. The company’s 50 day moving average is $14.37 and its 200 day moving average is $12.66. The company has a quick ratio of 4.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. Opera has a 52-week low of $9.40 and a 52-week high of $28.58.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. 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 report on Friday, March 1st. TheStreet raised shares of Opera from a “c+” rating to a “b-” rating in a report on Monday, March 4th.

Hedge Funds Weigh In On Opera

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new stake in Opera in the third quarter valued at approximately $29,000. Tucker Asset Management LLC boosted its stake in Opera by 25.1% in the third quarter. Tucker Asset Management LLC now owns 6,700 shares of the company’s stock valued at $76,000 after acquiring an additional 1,344 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Opera in the third quarter valued at approximately $118,000. Redwood Wealth Management Group LLC acquired a new stake in Opera in the fourth quarter valued at approximately $139,000. Finally, Ritholtz Wealth Management acquired a new stake in Opera in the third quarter valued at approximately $156,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

Opera Company Profile

Opera Limited, together with its subsidiaries, provides mobile and PC web browsers. It operates in two segments, Browser and News, and Other. The company offers mobile browser products, such as Opera Mini, Opera for Android and iOS, Opera GX Mobile, and 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.