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Strength Seen in Opera Limited Sponsored ADR (OPRA): Can Its 12.4% Jump Turn into More Strength?
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Opera Limited Sponsored ADR (OPRA - Free Report) shares rallied 12.4% in the last trading session to close at $14.46. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.7% gain over the past four weeks.
Opera Limited extended its rally, driven by its strength in Artificial Intelligence (AI) technology. Also, solid momentum in its advertisement business remains a major positive.
In addition, OPRA’s better than expected fourth-quarter 2023 results and positive outlook for 2024 are instilling investors’ optimism in the stock.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -23.5%. Revenues are expected to be $100.6 million, up 15.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Opera Limited Sponsored ADR, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OPRA going forward to see if this recent jump can turn into more strength down the road.
Opera Limited Sponsored ADR is a member of the Zacks Internet - Content industry. One other stock in the same industry, Perion Network (PERI - Free Report) , finished the last trading session 0.9% higher at $22.52. PERI has returned -5.2% over the past month.
For Perion Network, the consensus EPS estimate for the upcoming report has changed -0.6% over the past month to $0.61. This represents a change of +1.7% from what the company reported a year ago. Perion Network currently has a Zacks Rank of #1 (Strong Buy).
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Strength Seen in Opera Limited Sponsored ADR (OPRA): Can Its 12.4% Jump Turn into More Strength?
Opera Limited Sponsored ADR (OPRA - Free Report) shares rallied 12.4% in the last trading session to close at $14.46. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.7% gain over the past four weeks.
Opera Limited extended its rally, driven by its strength in Artificial Intelligence (AI) technology. Also, solid momentum in its advertisement business remains a major positive.
In addition, OPRA’s better than expected fourth-quarter 2023 results and positive outlook for 2024 are instilling investors’ optimism in the stock.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -23.5%. Revenues are expected to be $100.6 million, up 15.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Opera Limited Sponsored ADR, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on OPRA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Opera Limited Sponsored ADR is a member of the Zacks Internet - Content industry. One other stock in the same industry, Perion Network (PERI - Free Report) , finished the last trading session 0.9% higher at $22.52. PERI has returned -5.2% over the past month.
For Perion Network, the consensus EPS estimate for the upcoming report has changed -0.6% over the past month to $0.61. This represents a change of +1.7% from what the company reported a year ago. Perion Network currently has a Zacks Rank of #1 (Strong Buy).