Open Text Co. (NASDAQ:OTEX – Get Free Report) (TSE:OTC)’s stock price gapped down before the market opened on Friday after Jefferies Financial Group lowered their price target on the stock from $45.00 to $42.00. The stock had previously closed at $35.47, but opened at $30.44. Jefferies Financial Group currently has a buy rating on the stock. Open Text shares last traded at $29.86, with a volume of 1,249,416 shares traded.
OTEX has been the subject of a number of other reports. CIBC decreased their price target on Open Text from $44.00 to $38.50 and set a “neutral” rating for the company in a report on Friday. BMO Capital Markets downgraded Open Text from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $50.00 to $38.00 in a report on Friday. Citigroup decreased their price target on Open Text from $42.00 to $37.00 and set a “neutral” rating for the company in a report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 target price on shares of Open Text in a research note on Friday, February 2nd. Finally, Barclays reduced their target price on Open Text from $44.00 to $38.00 and set an “equal weight” rating for the company in a research note on Friday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.25.
View Our Latest Stock Analysis on OTEX
Institutional Investors Weigh In On Open Text
Open Text Price Performance
The business’s fifty day simple moving average is $37.32 and its 200-day simple moving average is $38.70. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.10. The firm has a market cap of $8.25 billion, a P/E ratio of 64.36 and a beta of 1.11.
Open Text (NASDAQ:OTEX – Get Free Report) (TSE:OTC) last released its quarterly earnings results on Thursday, February 1st. The software maker reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.48 billion. Open Text had a net margin of 2.24% and a return on equity of 22.99%. As a group, analysts forecast that Open Text Co. will post 4.14 EPS for the current fiscal year.
Open Text Company Profile
Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.
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