Opera (NASDAQ:OPRA) Announces Earnings Results, Beats Estimates By $0.06 EPS

Opera (NASDAQ:OPRA) announced its quarterly earnings data on Wednesday. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.27 by $0.06, FiscalAI reports. The company had revenue of $178.11 million for the quarter, compared to the consensus estimate of $177.10 million. Opera had a net margin of 17.72% and a return on equity of 8.54%.

Opera Stock Down 0.6%

NASDAQ OPRA opened at $19.51 on Wednesday. Opera has a 52 week low of $11.71 and a 52 week high of $21.06. The company has a fifty day moving average of $19.28 and a two-hundred day moving average of $16.89. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 15.48 and a beta of 1.32.

Opera Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th were paid a $0.40 dividend. The ex-dividend date was Tuesday, July 7th. This represents a yield of 407.0%. Opera’s payout ratio is presently 61.90%.

Insiders Place Their Bets

In other Opera news, CEO Lin Song sold 44,400 shares of Opera stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $18.52, for a total transaction of $822,288.00. Following the completion of the sale, the chief executive officer directly owned 120,846 shares of the company’s stock, valued at $2,238,067.92. The trade was a 26.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 84.36% of the stock is currently owned by insiders.

Institutional Trading of Opera

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Opera by 24.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock valued at $2,453,000 after purchasing an additional 30,662 shares during the last quarter. Caxton Associates LLP acquired a new position in Opera in the 1st quarter valued at about $270,000. State of Tennessee Department of Treasury acquired a new stake in shares of Opera during the second quarter worth about $83,000. Janney Montgomery Scott LLC increased its stake in Opera by 305.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock worth $1,289,000 after buying an additional 68,549 shares during the period. Finally, Harvey Capital Management Inc. increased its stake in Opera by 0.9% during the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after buying an additional 925 shares during the period. 10.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OPRA shares. Zacks Research downgraded shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Opera from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Opera in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Opera presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Opera Company Profile

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.