Open Text (TSE:OTEX) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Shares of Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$37.41 and traded as low as C$33.41. Open Text shares last traded at C$33.71, with a volume of 1,365,690 shares trading hands.

Wall Street Analyst Weigh In

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

Open Text Stock Down 3.0%

The company’s 50-day moving average price is C$37.41 and its 200 day moving average price is C$45.17. The company has a debt-to-equity ratio of 163.06, a quick ratio of 1.34 and a current ratio of 0.94. The stock has a market cap of C$8.40 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.35 and a beta of 0.81.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last posted its quarterly earnings data 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, analysts forecast that Open Text Co. 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.