Opera: Your Ideal Investment for AI Stock Growth in 2024
Thursday, 7 March 2024, 11:30
Opera beats expectations and predicts another good year
This AI stock popped following its latest earnings report, and it seems built for solid long-term upside. Technology stocks had a good start in 2024, with the Nasdaq-100 Technology Sector index gaining more than 10% already, and artificial intelligence (AI) has been a driving force behind this rally.
- Shares of Opera surged over 15% on March 1 after the company reported fourth-quarter revenue growth of 17% year over year to $113 million.
- The company's increased focus on advertising and search revenue has been key to its growth, with a 20% and 15% year-over-year rise, respectively.
- With 313 million monthly active users and a 22% growth in average revenue per user, Opera expects a 15% revenue increase to $450-465 million in 2024.
More reasons to buy the stock
Opera's low valuation multiples compared to Nvidia make it an attractive investment, despite the latter's faster growth. Investors could benefit from Opera's potential earnings growth and long-term price appreciation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.