Opera (NASDAQ:OPRA) Issues Quarterly Earnings Results

Opera (NASDAQ:OPRA) posted its quarterly earnings results on Wednesday. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06, FiscalAI reports. Opera had a net margin of 17.72% and a return on equity of 8.54%. The business had revenue of $178.11 million during the quarter, compared to analyst estimates of $177.10 million.

Opera Trading Down 0.6%

NASDAQ:OPRA opened at $19.51 on Wednesday. The company has a 50-day moving average price of $19.28 and a 200-day moving average price of $16.89. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 15.48 and a beta of 1.32. Opera has a 12 month low of $11.71 and a 12 month high of $21.06.

Opera Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th were issued a $0.40 dividend. The ex-dividend date was Tuesday, July 7th. This represents a yield of 407.0%. Opera’s dividend payout ratio is 61.90%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OPRA shares. Wall Street Zen upgraded Opera from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Zacks Research cut shares of Opera from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Opera in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Opera has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Insider Transactions at Opera

In other Opera news, CEO Lin Song sold 44,400 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $18.52, for a total value of $822,288.00. Following the completion of the sale, the chief executive officer directly owned 120,846 shares in the company, valued at $2,238,067.92. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 84.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in Opera by 24.9% in the first quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company’s stock worth $2,453,000 after purchasing an additional 30,662 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Opera in the 1st quarter worth about $270,000. State of Tennessee Department of Treasury purchased a new stake in shares of Opera in the 2nd quarter worth about $83,000. Janney Montgomery Scott LLC increased its stake in shares of Opera by 305.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 91,016 shares of the company’s stock worth $1,289,000 after acquiring an additional 68,549 shares in the last quarter. Finally, Harvey Capital Management Inc. increased its stake in shares of Opera by 0.9% in the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after acquiring an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Opera Company Profile

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.