Open Text (TSE:OTEX) Stock Price Down 6.8% – What’s Next?

Shares of Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) dropped 6.8% during trading on Wednesday . The stock traded as low as C$32.84 and last traded at C$32.88. Approximately 270,767 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,130,985 shares. The stock had previously closed at C$35.27.

Analysts Set New Price Targets

Separately, TD Securities cut their price objective 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 equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Open Text currently has an average rating of “Hold” and an average price target of C$28.00.

Open Text Stock Down 7.1%

The firm has a market cap of C$8.21 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 1.35 and a beta of 0.62. The company’s 50-day simple moving average is C$42.34 and its 200 day simple moving average is C$46.31. The company has a debt-to-equity ratio of 157.46, a current ratio of 0.87 and a quick ratio of 1.34.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last announced its earnings results on Thursday, February 5th. The company reported C$1.55 earnings per share (EPS) for the quarter. The firm had revenue of C$1.82 billion for the quarter. Open Text had a net margin of 12.21% and a return on equity of 15.83%. Research analysts anticipate that Open Text Co. will post 4.9036649 EPS 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.