Opera (NASDAQ:OPRA) Releases Earnings Results

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

Opera Stock Performance

NASDAQ OPRA opened at $13.34 on Friday. The stock has a market cap of $1.18 billion, a PE ratio of 7.10 and a beta of 0.81. The company has a current ratio of 2.56, a quick ratio of 4.69 and a debt-to-equity ratio of 0.01. Opera has a twelve month low of $9.40 and a twelve month high of $28.58. The stock has a fifty day simple moving average of $14.37 and a 200-day simple moving average of $12.67.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OPRA shares. TheStreet upgraded Opera from a “c+” rating to a “b-” rating in a report on Monday, March 4th. TD Cowen increased their price target on Opera from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, March 1st.

Hedge Funds Weigh In On Opera

A number of hedge funds and other institutional investors have recently bought and sold shares of OPRA. Citigroup Inc. purchased a new position in Opera during the 3rd quarter valued at about $190,327,000. Hudson Bay Capital Management LP purchased a new position in Opera during the 3rd quarter valued at about $3,842,000. Walleye Capital LLC purchased a new position in Opera during the 3rd quarter valued at about $3,652,000. Monashee Investment Management LLC purchased a new position in Opera during the 3rd quarter valued at about $3,381,000. Finally, Toroso Investments LLC purchased a new position in Opera during the 3rd quarter valued at about $3,009,000. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

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.