Open Text (TSE:OTEX) Stock Passes Above 50-Day Moving Average – What’s Next?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$31.32 and traded as high as C$33.25. Open Text shares last traded at C$31.38, with a volume of 2,168,113 shares changing hands.

Wall Street Analysts Forecast Growth

OTEX has been the subject of a number of recent analyst reports. TD reduced their target price on Open Text from C$28.00 to C$27.00 and set a “hold” rating for the company in a report on Monday, May 11th. TD Securities dropped 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. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$27.50.

Open Text Trading Up 0.8%

The firm has a market cap of C$7.61 billion, a PE ratio of 15.23, a PEG ratio of 1.35 and a beta of 0.93. The business has a 50-day moving average price of C$31.32 and a two-hundred day moving average price of C$38.43. The company has a debt-to-equity ratio of 161.91, a current ratio of 0.92 and a quick ratio of 1.34.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$1.40 earnings per share for the quarter. Open Text had a return on equity of 12.88% and a net margin of 9.89%.The business had revenue of C$1.78 billion during the quarter. Analysts forecast that Open Text Co. will post 4.9036649 EPS for the current 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.