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

Opera Limited (NASDAQ:OPRA) – Equities research analysts at B. Riley increased their Q1 2024 earnings per share (EPS) estimates for Opera in a research report issued to clients and investors on Friday, April 19th. B. Riley analyst N. Khan now forecasts that the company will earn $0.15 per share for the quarter, up from their prior 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.

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

Opera Trading Down 5.9 %

Shares of Opera stock opened at $13.95 on Monday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 7.42 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 debt-to-equity ratio of 0.01, a quick ratio of 4.69 and a current ratio of 2.56. The stock has a 50 day moving average of $14.11 and a 200 day moving average of $12.57.

Opera (NASDAQ:OPRA) last posted its quarterly earnings results on Thursday, February 29th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 19.90% and a net margin of 42.69%.

Institutional Trading of Opera

Several hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its stake in shares of Opera by 42.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 57,533 shares of the company’s stock valued at $910,000 after acquiring an additional 17,242 shares in the last quarter. Annex Advisory Services LLC acquired a new stake in Opera in the first quarter valued at $158,000. Richard P Slaughter Associates Inc acquired a new stake in Opera in the first quarter valued at $3,103,000. Goldman Sachs Group Inc. raised its stake in Opera by 47.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 118,797 shares of the company’s stock valued at $1,572,000 after buying an additional 38,328 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Opera in the fourth quarter valued at $432,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

About Opera

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.