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Opera Ltd (NASDAQ:OPRA) shares have reached a 52-week high, touching $19.82, as the company continues to ride a wave of strong performance and positive investor sentiment. This latest peak represents a significant milestone for the tech firm, which has seen its stock price surge over the past year. The 1-year change data for Opera Ltd is particularly impressive, with the company's stock value climbing by 55.41%, a testament to its robust growth strategy and the market's confidence in its future prospects. Investors are closely monitoring Opera's trajectory as it capitalizes on its recent successes and continues to innovate in the competitive tech landscape.
In other recent news, Opera Limited has reported a 20% year-over-year increase in revenue, reaching $123 million, in its third-quarter earnings call. This rise was largely due to significant gains in advertising and search revenue, alongside a notable increase in annualized average revenue per user (ARPU). The company also reported that its adjusted EBITDA stood at $31 million, with a margin of 25%.
Opera Limited's advertising revenue saw a 26% growth, leading to $77 million, while search revenue increased by 13%, amounting to $46 million. Additionally, the company experienced a 33% increase in new iOS users following the launch of Opera One for iOS. The company also announced a successful partnership with Riot Games for the League of Legends World Championship.
The company's full-year revenue guidance has been updated to $470 million to $473 million, with an adjusted EBITDA of $112 million to $114 million. Opera Limited is also planning to divest an asset and is currently awaiting a suitable offer. These are among the recent developments in the company's financial performance.
InvestingPro Insights
Opera Ltd's (OPRA) recent stock performance aligns with several key metrics and insights from InvestingPro. The company's strong market position is reflected in its trading near its 52-week high, with the stock price at 98.48% of its peak. This performance is underscored by impressive returns across various timeframes, including a 20.67% return over the last month and a 62.06% return over the past year.
InvestingPro data reveals that Opera boasts a market capitalization of $1.74 billion and a P/E ratio of 22.4, suggesting investors are willing to pay a premium for the company's earnings. The company's financial health appears robust, with revenue growth of 17.82% over the last twelve months and a strong EBITDA growth of 41.48% during the same period.
InvestingPro Tips highlight Opera's solid financial position, noting that the company "holds more cash than debt on its balance sheet" and "liquid assets exceed short-term obligations." These factors contribute to the company's ability to fund growth initiatives and weather potential market uncertainties.
For investors seeking a deeper understanding of Opera's potential, InvestingPro offers 13 additional tips, providing a comprehensive analysis of the company's financial health and market position.
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