Opera Limited Expected to Post Q1 2024 Earnings of $0.15 Per Share (NASDAQ:OPRA)

Opera Limited (NASDAQ:OPRA) – B. Riley boosted their Q1 2024 earnings per share (EPS) estimates for Opera in a research note issued on Friday, April 19th. B. Riley analyst N. Khan now forecasts that the company will post earnings of $0.15 per share for the quarter, up from their prior estimate of $0.14. The consensus estimate for Opera’s current full-year earnings is $0.73 per share. B. Riley also issued estimates for Opera’s Q2 2024 earnings at $0.16 EPS, FY2025 earnings at $1.06 EPS, FY2026 earnings at $1.37 EPS, FY2027 earnings at $1.69 EPS and FY2028 earnings at $2.02 EPS.

Opera (NASDAQ:OPRA) last announced its quarterly earnings data on Thursday, February 29th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $1.20. The business had revenue of $113.00 million during the quarter, compared to the consensus estimate of $112.20 million. Opera had a return on equity of 19.90% and a net margin of 42.69%.

Several other equities research analysts have also recently weighed in on the company. TD Cowen boosted their target price on Opera from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. TheStreet upgraded Opera from a “c+” rating to a “b-” rating in a research note on Monday, March 4th.

Opera Price Performance

OPRA stock opened at $14.36 on Monday. The business has a 50 day moving average price of $14.24 and a 200 day moving average price of $12.63. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 7.64 and a beta of 0.81. Opera has a fifty-two week low of $9.40 and a fifty-two week high of $28.58. The company has a quick ratio of 4.69, a current ratio of 2.56 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Opera

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. purchased a new stake in Opera in the third quarter valued at approximately $190,327,000. Roumell Asset Management LLC raised its stake in shares of Opera by 169.2% during the fourth quarter. Roumell Asset Management LLC now owns 376,870 shares of the company’s stock worth $4,986,000 after purchasing an additional 236,870 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Opera during the third quarter worth approximately $3,842,000. Walleye Capital LLC purchased a new stake in shares of Opera during the third quarter worth approximately $3,652,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Opera during the third quarter worth approximately $3,381,000. Hedge funds and other 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. 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.