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

Shares of Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$37.41 and traded as low as C$33.41. Open Text shares last traded at C$33.71, with a volume of 1,365,690 shares trading hands.

Analysts Set New Price Targets

Separately, TD Securities decreased their target price 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 analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$28.00.

Open Text Stock Performance

The company has a debt-to-equity ratio of 163.06, a current ratio of 0.94 and a quick ratio of 1.34. The company has a market capitalization of C$8.40 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.35 and a beta of 0.81. The business has a 50-day moving average of C$37.41 and a 200-day moving average of C$45.17.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last released its earnings results on Thursday, February 5th. The company reported C$1.55 earnings per share (EPS) for the quarter. The firm had revenue of C$1.82 billion during the quarter. Open Text had a net margin of 8.42% and a return on equity of 10.83%. On average, sell-side analysts anticipate that Open Text Co. will post 4.9036649 EPS 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.