Opera posted strong results in the third quarter, showing signs of improvement in the struggling digital-advertising market.
Opera Limited (NASDAQ:OPRA ) Q3 2024 Results Conference Call October 29, 2024 8:00 AM ET Company Participants Matt Wolfson - Head of IR Song Lin - Co-CEO Frode Jacobsen - CFO Conference Call Participants Naved Khan - B. Riley Securities Lance Vitanza - TD Cowen Mark Argento - Lake Street Alicia Yap - Citi Operator Welcome to the Opera Limited Third Quarter 2024 Earnings Call.
Does Opera Limited Sponsored ADR (OPRA) have what it takes to be a top stock pick for momentum investors? Let's find out.
OPRA is experiencing growth in its user base, particularly in advertising and search revenues, along with advancements in AI.
These stocks are boiling kettles waiting to explode.
Does Opera Limited Sponsored ADR (OPRA) have what it takes to be a top stock pick for momentum investors? Let's find out.
Opera Limited's robust financial performance, driven by increased monetization and strategic focus on high-ARPU users, supports a "Buy" rating. In Q2 2024, the company's revenue grew 17% YoY, with advertising revenue up 20% and search revenue up 15%, despite higher expenses. Opera's strong cash position, generous dividend yield, and strategic investments in innovation and high-value markets indicate continued growth potential.
Opera Limited (OPRA) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
OPRA, PAM, and SIRI made it to the Zacks Rank #1 (Strong Buy) value stocks list on September 30, 2024.
OPRA's robust capital appreciation and rich dividend yields justify the reiterated Buy rating, thanks to its inherent undervaluation and growing Free Cash Flow generation. The dip in its overall MAUs has been highly strategic as well, as observed in the growing user share from Western regions and higher ARPUs thus far. These developments have contributed to the growth flywheel across OPRA's advertising and search revenues, as the management raises its FY2024 guidance.
OPRA is transforming the browsing experience with Aria. Its AI is now accessible to all users without login.
OPRA's shares are driven by increasing user growth, especially in advertising and search revenues and advancements in AI.