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

Opera Limited (NASDAQ:OPRA) – Research analysts at B. Riley boosted their Q1 2024 EPS estimates for shares of Opera in a research report issued on Friday, April 19th. B. Riley analyst N. Khan now expects that the company will earn $0.15 per share for the quarter, up from their previous forecast 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 released its quarterly earnings results on Thursday, February 29th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $0.18 by $1.20. The business had revenue of $113.00 million during the quarter, compared to analyst estimates of $112.20 million. Opera had a net margin of 42.69% and a return on equity of 19.90%.

Other analysts have also issued reports about the stock. TheStreet raised shares of Opera from a “c+” rating to a “b-” rating in a research report on Monday, March 4th. TD Cowen increased 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.

Opera Stock Performance

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

Hedge Funds Weigh In On Opera

Several hedge funds and other institutional investors have recently bought and sold shares of OPRA. PNC Financial Services Group Inc. acquired a new position in Opera in the 3rd quarter worth approximately $29,000. Tucker Asset Management LLC grew its stake in shares of Opera by 25.1% during the 3rd quarter. Tucker Asset Management LLC now owns 6,700 shares of the company’s stock worth $76,000 after purchasing an additional 1,344 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Opera during the 3rd quarter worth approximately $118,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Opera during the 4th quarter worth approximately $139,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Opera during the 3rd quarter worth approximately $156,000. Institutional investors and hedge funds 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.