Open Text (TSE:OTEX) Hits New 52-Week Low – What’s Next?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) shares hit a new 52-week low during trading on Thursday . The company traded as low as C$27.95 and last traded at C$28.10, with a volume of 707735 shares traded. The stock had previously closed at C$29.83.

Wall Street Analysts Forecast Growth

Separately, TD Securities cut their price target on 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 investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$28.00.

Open Text Price Performance

The company has a market capitalization of C$6.92 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. The company has a fifty day moving average price of C$32.59 and a 200 day moving average price of C$42.77. The company has a debt-to-equity ratio of 163.06, a current ratio of 0.94 and a quick ratio of 1.34.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last posted its 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 company had revenue of C$1.82 billion during the quarter. On average, sell-side 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.