Shares of Opera have experienced volatility but are poised to recover as analysts project a 44% increase in stock value, with a $25 target. The company reported significant growth in its first quarter, with revenues surging 40% and adjusted earnings climbing 35%. This growth has led Opera to raise its full-year revenue guidance to $575 million. A significant contributor to this success has been the increase in ad revenue by 63%, driven by enhanced advertising strategies across its platforms targeting its 293 million active users.
Analysts expect Opera's shares to rebound, projecting a price target of $25 which indicates a potential 44% gain, driven by strong performance and growth.
Opera's first-quarter results surpassed expectations with a 40% revenue increase and a 35% rise in adjusted earnings, a notable leap from last year's 17% revenue growth.
The company raised its full-year revenue guidance to $575 million, up three points, indicating confidence in performance driven by enhanced monetization strategies.
With ad revenue surging by 63% year over year due to effective monetization of its properties, Opera successfully attracted more advertising dollars from various channels.
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