Open Text (TSE:OTEX) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$43.55 and traded as low as C$30.20. Open Text shares last traded at C$31.00, with a volume of 1,323,078 shares traded.

Analysts Set New Price Targets

Separately, TD Securities dropped their target price 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. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Open Text has an average rating of “Hold” and a consensus price target of C$28.00.

Open Text Stock Up 0.1%

The firm has a market capitalization of C$7.81 billion, a PE ratio of 18.34, a P/E/G ratio of 1.35 and a beta of 0.81. The stock has a 50-day simple moving average of C$33.21 and a 200-day simple moving average of C$43.38. The company has a quick ratio of 1.34, a current ratio of 0.94 and a debt-to-equity ratio of 163.06.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last issued its quarterly earnings results 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. Analysts forecast that Open Text Co. will post 4.9036649 EPS for the current 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.