Q1 2024 EPS Estimates for Opera Limited Boosted by Analyst (NASDAQ:OPRA)

Opera Limited (NASDAQ:OPRA) – Investment analysts at B. Riley boosted their Q1 2024 EPS estimates for shares of Opera in a research note 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.

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

Opera Stock Performance

Shares of OPRA stock opened at $13.95 on Monday. The firm’s 50 day moving average price is $14.11 and its 200-day moving average price is $12.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 2.56. Opera has a one year low of $9.40 and a one year high of $28.58. The firm has a market cap of $1.24 billion, a P/E ratio of 7.42 and a beta of 0.81.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Citigroup Inc. purchased a new position in Opera during the 3rd quarter worth $190,327,000. Voloridge Investment Management LLC lifted its stake in shares of Opera by 73.7% in the 4th quarter. Voloridge Investment Management LLC now owns 510,286 shares of the company’s stock worth $6,751,000 after acquiring an additional 216,448 shares during the period. Roumell Asset Management LLC lifted its stake in shares of Opera by 169.2% in the 4th quarter. Roumell Asset Management LLC now owns 376,870 shares of the company’s stock worth $4,986,000 after acquiring an additional 236,870 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Opera in the 3rd quarter worth $3,842,000. Finally, Walleye Capital LLC acquired a new stake in shares of Opera in the 3rd quarter worth $3,652,000. 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.