Open Text (TSE:OTEX) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$32.24 and traded as low as C$31.63. Open Text shares last traded at C$31.82, with a volume of 850,110 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD Securities cut their target price on shares of Open Text from C$40.00 to C$28.00 and set a “hold” rating for the company in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$28.00.

Open Text Stock Up 0.2%

The company has a market capitalization of C$7.93 billion, a PE ratio of 18.61, a PEG ratio of 1.35 and a beta of 0.89. The company’s 50 day moving average is C$32.24 and its two-hundred day moving average is C$41.92. 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 data on Thursday, February 5th. The company reported C$1.55 EPS for the quarter. Open Text had a net margin of 8.42% and a return on equity of 10.83%. The business had revenue of C$1.82 billion during the quarter. On average, analysts anticipate that Open Text Co. will post 4.9036649 earnings per share 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.