Opera (NASDAQ:OPRA) Announces Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Opera beat quarterly expectations: The company reported earnings of $0.33 per share, $0.06 above consensus, while revenue reached $178.11 million versus expectations of $177.10 million. Net margin was 17.72% and return on equity was 8.54%.
• Analysts remain moderately bullish: Opera has a consensus rating of “Moderate Buy” and an average price target of $21.50, compared with shares opening at $19.51.
• Opera paid a $0.40 dividend and has a 61.90% payout ratio, while CEO Lin Song sold 44,400 shares, reducing his position by 26.87%.

Opera (NASDAQ:OPRA - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06, FiscalAI reports. Opera had a return on equity of 8.54% and a net margin of 17.72%.The business had revenue of $178.11 million for the quarter, compared to analysts' expectations of $177.10 million.

Opera Price Performance

Shares of OPRA opened at $19.51 on Wednesday. The firm's 50 day simple moving average is $19.28 and its 200 day simple moving average is $16.89. The company has a market capitalization of $1.75 billion, a P/E ratio of 15.48 and a beta of 1.32. Opera has a 1-year low of $11.71 and a 1-year high of $21.06.

Opera Announces Dividend

The business also recently announced a dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, July 7th were paid a $0.40 dividend. This represents a yield of 407.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Opera's dividend payout ratio (DPR) is currently 61.90%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Opera from a "hold" rating to a "buy" rating in a research note on Saturday, June 20th. Zacks Research downgraded shares of Opera from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Opera in a report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.50.

Insider Buying and Selling

In other Opera news, CEO Lin Song sold 44,400 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 120,846 shares of the company's stock, valued at $2,238,067.92. The trade was a 26.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 84.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Tennessee Department of Treasury bought a new position in Opera in the second quarter valued at $83,000. Caxton Associates LLP bought a new stake in Opera during the first quarter worth about $270,000. Janney Montgomery Scott LLC boosted its holdings 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 purchasing an additional 68,549 shares in the last quarter. Harvey Capital Management Inc. boosted its holdings 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 purchasing an additional 925 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Opera by 24.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 153,906 shares of the company's stock valued at $2,453,000 after buying an additional 30,662 shares in the last quarter. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

About Opera

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.

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