Open Text (TSE:OTEX) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• Open Text shares moved above their 50-day moving average (C$31.74), trading as high as C$32.41 on volume of 1,401,388 shares, though the stock remains well below its 200-day MA of C$40.20.
• TD Securities cut its target price from C$40.00 to C$28.00 and set a Hold rating; the consensus analyst rating and price target are currently "Hold" and C$28.00.
• In the most recent quarter Open Text reported C$1.55 EPS on C$1.82 billion in revenue, with a market cap of C$7.84 billion and a PE of 18.41, while carrying a high debt-to-equity ratio of 163.06.

Open Text Co. (TSE:OTEX - Get Free Report) NASDAQ: OTEX's stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$31.74 and traded as high as C$32.41. Open Text shares last traded at C$31.48, with a volume of 1,401,388 shares traded.

Analyst Ratings Changes

Separately, TD Securities decreased their target price 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$28.00.

Open Text Stock Down 0.1%

The company has a quick ratio of 1.34, a current ratio of 0.94 and a debt-to-equity ratio of 163.06. The stock has a 50-day simple moving average of C$31.74 and a 200-day simple moving average of C$40.20. The firm has a market capitalization of C$7.84 billion, a PE ratio of 18.41, a P/E/G ratio of 1.35 and a beta of 0.89.

Open Text (TSE:OTEX - Get Free Report) NASDAQ: OTEX last posted 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 during 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.

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