Opera (OPRA) Could Be 26% Undervalued Following User Growth And $300 Million Buyback

Opera (NasdaqGS:OPRA) is back in focus after reporting 288 million monthly active users in the first quarter of 2026, a 25% rise in annualized average revenue per user, and approving a $300 million share repurchase program.

See our latest analysis for Opera.

At a share price of US$19.51, Opera has seen a 37.10% year to date share price return and a 26.35% total shareholder return over the past year. Multi year total shareholder returns above 100% suggest longer term holders have already captured substantial value.

If Opera's AI and browser story has your attention, it can be helpful to see what else is gaining traction in related themes, starting with 68 profitable AI stocks that aren't just burning cash

After Opera's strong run and fresh buyback plans, some investors may feel most of the easy gains are already gone. The next step is to examine whether the current share price still leaves clear upside on a valuation basis.

Most Popular Narrative: 25.8% Undervalued

According to the most followed narrative, Opera's fair value of $26.29 sits well above the recent $19.51 share price, which puts a spotlight on how its AI and browser platform is being valued.

What makes OPRA particularly interesting is that the market often values it like a mature browser company, while management is actively building AI-enabled products and monetization channels that could support faster long-term growth.

Read the complete narrative.

Curious what supports that higher fair value for Opera. The narrative leans on double digit revenue growth, expanding margins, and a future earnings multiple that assumes real staying power.

Result: Fair Value of $26.29 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, investors also need to watch for slower user or revenue growth, as well as heavier AI investment at Opera that could pressure margins and challenge the current valuation story.

Find out about the key risks to this Opera narrative.

Next Steps

Given the mix of optimism and caution around Opera, this is a good moment to review the data yourself and decide where you stand. To weigh both sides of the story in one place, start with the 5 key rewards and 2 important warning signs.

Looking for more investment ideas beyond Opera?

Opera might be front of mind today, but you give yourself more options when you regularly scan for other stocks that fit clear, data driven criteria.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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