TD Issues Pessimistic Forecast for Open Text (TSE:OTEX) Stock Price

Open Text (TSE:OTEX) (NASDAQ:OTEX) had its price objective cut by stock analysts at TD from C$28.00 to C$27.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD’s price objective would suggest a potential downside of 19.14% from the stock’s previous close.

Separately, TD Securities dropped their price objective on shares of Open Text from C$40.00 to C$28.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$27.50.

Open Text Stock Down 1.2%

Shares of TSE OTEX traded down C$0.42 during midday trading on Monday, reaching C$33.39. 409,761 shares of the company’s stock traded hands, compared to its average volume of 1,407,356. The company has a quick ratio of 1.34, a current ratio of 0.92 and a debt-to-equity ratio of 161.91. The stock’s 50 day simple moving average is C$31.67 and its 200-day simple moving average is C$39.72. Open Text has a one year low of C$27.63 and a one year high of C$56.00. The company has a market cap of C$8.32 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.35 and a beta of 0.93.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last released its quarterly earnings data on Thursday, May 7th. The company reported C$1.40 earnings per share (EPS) for the quarter. Open Text had a net margin of 9.89% and a return on equity of 12.88%. The firm had revenue of C$1.78 billion for the quarter. On average, analysts predict that Open Text will post 4.9036649 EPS for the current fiscal year.

Open Text Company Profile

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.