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

Key Points

• Technical signal: Open Text shares fell below their 50‑day moving average (50‑day = C$32.24), trading as low as C$31.63 and last at C$31.82 with about 850,110 shares changing hands; the 200‑day MA is C$41.92.
• Analyst action: TD Securities cut its price target from C$40 to C$28 and set a "hold," leaving the consensus rating at "Hold" with a C$28 consensus target.
• Recent results & fundamentals: The company reported Q earnings of C$1.55 EPS on C$1.82B revenue, has a market cap of ~C$7.93B and a P/E of 18.6, but carries high leverage (debt‑to‑equity 163.06) and a net margin of 8.42%.

Shares of Open Text Co. (TSE:OTEX - Get Free Report) NASDAQ: OTEX passed 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 decreased their price objective on shares of Open Text from C$40.00 to C$28.00 and set a "hold" rating on the stock in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Open Text currently has an average rating of "Hold" and a consensus price target of C$28.00.

Open Text Stock Up 0.2%

The stock has a market capitalization of C$7.93 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.35 and a beta of 0.89. The company's 50-day moving average price is C$32.24 and its 200 day moving average price is C$41.92. The company has a debt-to-equity ratio of 163.06, a quick ratio of 1.34 and a current ratio of 0.94.

Open Text (TSE:OTEX - Get Free Report) NASDAQ: OTEX last announced its quarterly earnings data on Thursday, February 5th. The company reported C$1.55 EPS for the quarter. The firm had revenue of C$1.82 billion for the quarter. Open Text had a net margin of 8.42% and a return on equity of 10.83%. As a group, equities analysts expect 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.

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