Somewhat Positive Media Coverage Somewhat Unlikely to Affect Open Text (OTEX) Stock Price

Press coverage about Open Text (NASDAQ:OTEX) (TSE:OTC) has been trending somewhat positive recently, Accern Sentiment Analysis reports. The research group scores the sentiment of media coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Open Text earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave news stories about the software maker an impact score of 46.1799329172885 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

Shares of Open Text (NASDAQ:OTEX) traded down $0.04 during midday trading on Friday, reaching $33.66. The company’s stock had a trading volume of 316,719 shares, compared to its average volume of 655,377. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $8,936.12, a PE ratio of 59.05 and a beta of 0.44. Open Text has a 1-year low of $30.88 and a 1-year high of $35.80.

Open Text (NASDAQ:OTEX) (TSE:OTC) last announced its earnings results on Thursday, November 2nd. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. Open Text had a return on equity of 6.53% and a net margin of 6.12%. analysts forecast that Open Text will post 0.34 EPS for the current year.

Several research firms have commented on OTEX. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Open Text in a report on Thursday, November 2nd. BidaskClub downgraded Open Text from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Raymond James Financial downgraded Open Text to an “underperform” rating and set a $40.00 price objective on the stock. in a report on Wednesday, November 22nd. Macquarie reduced their price objective on Open Text from $43.00 to $40.00 in a report on Thursday, November 23rd. Finally, CIBC raised their price objective on Open Text from $41.00 to $42.00 in a report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.27.

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Open Text Company Profile

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

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