Opera Maintains 'Buy' Rating from TD Cowen with Steady Price Target

Opera maintains Buy rating from TD Cowen with steady price target By Investing.com

Opera (NASDAQ: NASDAQ:OPRA) has retained its Buy rating and a price target of $25.00, as endorsed by TD Cowen. The firm anticipates that Opera's upcoming product launches, scheduled for later this year, will appeal to the company's focus demographic, which includes higher-value users in markets that are currently underserved or not adequately catered to. TD Cowen's outlook for Opera's fiscal year 2025 is optimistic, citing the company's robust culture that emphasizes energy, innovation, and a proactive attitude. According to the firm, these attributes position Opera to potentially sustain its trajectory of leading revenue growth within the industry, alongside strong cash flow generation. The endorsement comes as the company prepares to introduce new products aimed at niches where Opera has identified an opportunity to serve high-value users. These strategic launches are part of Opera's broader efforts to expand its market presence and enhance its product offerings. Opera's commitment to innovation and its aggressive approach to capturing market share in specialized segments are key factors that TD Cowen believes will drive the company's performance. The firm's maintained price target reflects confidence in Opera's capacity to execute its strategic initiatives effectively. The company's focus on maintaining a culture that fosters energy and innovation is expected to continue underpinning its success. Opera's strategic direction, combined with its financial performance, is anticipated to keep it at the forefront of revenue growth in its sector, according to TD Cowen's analysis. In other recent news, Opera has reported robust financial performance for the second quarter of 2024, with a 17% year-over-year increase in total revenue to $109.7 million and a 30% growth in adjusted EBITDA to $26.6 million. This has led TD Cowen, Citi, and Goldman Sachs (NYSE:GS) to maintain a Buy rating on Opera shares. The firms attribute this positive outlook to Opera's strong e-commerce performance and the integration of AI efficiencies. Opera has also expanded its AI capabilities, making its integrated AI, Aria, accessible to all users without the need for logging in. The company is planning to extend Aria's availability to Opera for Android and Opera for iOS in the coming weeks. This development is part of Opera's broader strategy to enhance its browser AI capabilities. Furthermore, Opera has launched its AI-powered browser, Opera One, for iOS devices. The company has also announced plans to integrate on-device AI capabilities into its Opera One and Opera GX browsers. Opera's financial health and market performance align well with TD Cowen's optimistic outlook. According to InvestingPro data, Opera boasts a market capitalization of $1.37 billion and has demonstrated strong revenue growth of 17.76% over the last twelve months as of Q2 2024. This growth trajectory supports TD Cowen's expectation of Opera maintaining its leading position in revenue growth within the industry. The company's financial stability is further underscored by two key InvestingPro Tips: Opera holds more cash than debt on its balance sheet, and its cash flows can sufficiently cover interest payments. These factors contribute to the company's ability to invest in new product launches and innovation, as highlighted in the article. Opera's profitability is also noteworthy, with a gross profit margin of 56.58% and an operating income margin of 18.4% for the last twelve months. An InvestingPro Tip indicates that analysts predict the company will remain profitable this year, aligning with TD Cowen's positive outlook for fiscal year 2025. For investors seeking more comprehensive insights, InvestingPro offers 5 additional tips that could provide a deeper understanding of Opera's financial position and growth potential. These additional insights could be particularly valuable as the company prepares to launch new products targeting high-value users in underserved markets.

Opera maintains buy rating with steady price target By Investing.com

Opera (NASDAQ:OPRA) retained its Buy rating and a price target of $25.00, as endorsed by TD Cowen. The firm anticipates that Opera's upcoming product launches, scheduled for later this year, will appeal to the company's focus demographic, which includes higher-value users in markets that are currently underserved or not adequately catered to. TD Cowen's outlook for Opera's fiscal year 2025 is optimistic, citing the company's robust culture that emphasizes energy, innovation, and a proactive attitude. According to the firm, these attributes position Opera to potentially sustain its trajectory of leading revenue growth within the industry, alongside strong cash flow generation. The endorsement comes as the company prepares to introduce new products aimed at niches where Opera has identified an opportunity to serve high-value users. These strategic launches are part of Opera's broader efforts to expand its market presence and enhance its product offerings. Opera's commitment to innovation and its aggressive approach to capturing market share in specialized segments are key factors that TD Cowen believes will drive the company's performance. The firm's maintained price target reflects confidence in Opera's capacity to execute its strategic initiatives effectively. The company's focus on maintaining a culture that fosters energy and innovation is expected to continue underpinning its success. Opera's strategic direction, combined with its financial performance, is anticipated to keep it at the forefront of revenue growth in its sector, according to TD Cowen's analysis. In other recent news, Opera has reported robust financial performance for the second quarter of 2024, with a 17% year-over-year increase in total revenue to $109.7 million and a 30% growth in adjusted EBITDA to $26.6 million. This has led TD Cowen, Citi, and Goldman Sachs (NYSE:GS) to maintain a Buy rating on Opera shares. The firms attribute this positive outlook to Opera's strong e-commerce performance and the integration of AI efficiencies. Opera has also expanded its AI capabilities, making its integrated AI, Aria, accessible to all users without the need for logging in. The company is planning to extend Aria's availability to Opera for Android and Opera for iOS in the coming weeks. This development is part of Opera's broader strategy to enhance its browser AI capabilities. Opera has launched its AI-powered browser, Opera One, for iOS devices. The company has also announced plans to integrate on-device AI capabilities into its Opera One and Opera GX browsers. Opera's financial health and market performance align well with TD Cowen's optimistic outlook. According to InvestingPro data, Opera boasts a market capitalization of $1.37 billion and has demonstrated strong revenue growth of 17.76% over the last twelve months as of Q2 2024. This growth trajectory supports TD Cowen's expectation of Opera maintaining its leading position in revenue growth within the industry. The company's financial stability is further underscored by two key InvestingPro Tips: Opera holds more cash than debt on its balance sheet, and its cash flows can sufficiently cover interest payments. These factors contribute to the company's ability to invest in new product launches and innovation, as highlighted in the article. Opera's profitability is also noteworthy, with a gross profit margin of 56.58% and an operating income margin of 18.4% for the last twelve months. An InvestingPro Tip indicates that analysts predict the company will remain profitable this year, aligning with TD Cowen's positive outlook for fiscal year 2025. For investors seeking more comprehensive insights, InvestingPro offers 5 additional tips that could provide a deeper understanding of Opera's financial position and growth potential. These additional insights could be particularly valuable as the company prepares to launch new products targeting high-value users in underserved markets.