In a report released today, Lance Vitanza from TD Cowen maintained a Buy rating on Opera, with a price target of $33.00.
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Lance Vitanza has given his Buy rating due to a combination of factors that highlight Opera’s strong performance and potential for future growth. The company has demonstrated impressive revenue growth, with a 30% year-over-year increase, which exceeded expectations and suggests a positive trajectory moving forward. Additionally, Opera’s advancements in AI technology are seen as a promising development that could further enhance its market position.
Moreover, Opera’s MiniPay platform has shown significant progress, with over 9 million activated wallets and a substantial number of transactions, indicating a potential boost to shareholder value. The company’s advertising revenue also surpassed expectations, driven by a strong performance in the e-commerce sector and a strategic shift towards higher-value verticals. This diversification and global reach have allowed Opera to mitigate challenges such as tariff-related headwinds, underscoring the resilience and growth potential of its business model.
In another report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $24.50 price target.