Open Text (TSE:OTEX) Sets New 1-Year Low – What’s Next?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) shares hit a new 52-week low during trading on Monday . The company traded as low as C$30.56 and last traded at C$30.67, with a volume of 363812 shares. The stock had previously closed at C$31.52.

Analyst Upgrades and Downgrades

Separately, TD Securities reduced their price target on Open Text from C$40.00 to C$28.00 and set a “hold” rating for the company in a research report on Monday, February 2nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$28.00.

Open Text Stock Performance

The business’s 50-day simple moving average is C$36.14 and its two-hundred day simple moving average is C$44.69. The company has a quick ratio of 1.34, a current ratio of 0.94 and a debt-to-equity ratio of 163.06. The firm has a market cap of C$7.85 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.35 and a beta of 0.81.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last posted its earnings results on Thursday, February 5th. The company reported C$1.55 EPS for the quarter. Open Text had a return on equity of 10.83% and a net margin of 8.42%.The firm had revenue of C$1.82 billion for the quarter. As a group, sell-side analysts expect that Open Text Co. will post 4.9036649 earnings per share for the current fiscal year.

About Open Text

OpenText¿ is a leading Cloud and AI company that provides organizations around the world with a comprehensive suite of Business AI, Business Clouds, and Business Technology. We help organizations grow, innovate, become more efficient and effective, and do so in a trusted and secure way – through Information Management.