Posted 3/7/2024, 11:30:00 AM
Opera Beats on Q4 Earnings, Forecasts Continued Growth on Generative AI Focus and Improving Monetization
- Opera beat revenue expectations in Q4 2023 and predicts 15% revenue growth in 2024
- The company is focusing on integrating generative AI into its browsers to drive growth
- Opera has over 300 million monthly active users but is improving monetization (revenue per user increased 22% YoY)
- The stock trades at cheap valuation multiples compared to Nvidia (3.4x sales vs 33.7x for Nvidia)
- If Opera hits expected 2026 EPS targets, shares could double from current levels as earnings multiple expands