Open Text (TSE:OTEX) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$43.55 and traded as low as C$30.20. Open Text shares last traded at C$31.00, with a volume of 1,323,078 shares trading hands.

Wall Street Analyst Weigh In

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 report on Monday, February 2nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$28.00.

Open Text Stock Performance

The company’s 50 day simple moving average is C$33.55 and its 200 day simple moving average is C$43.55. The company has a debt-to-equity ratio of 163.06, a quick ratio of 1.34 and a current ratio of 0.94. The stock has a market cap of C$7.72 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.35 and a beta of 0.81.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last announced its quarterly earnings data on Thursday, February 5th. The company reported C$1.55 earnings per share (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 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.