Open Text (TSE:OTEX) Shares Down 6.8% – Should You Sell?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX) was down 6.8% during trading on Wednesday . The stock traded as low as C$32.84 and last traded at C$32.88. Approximately 270,767 shares traded hands during trading, a decline of 76% from the average daily volume of 1,130,985 shares. The stock had previously closed at C$35.27.

Analyst Upgrades and Downgrades

Separately, TD Securities lowered 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 report on Monday, February 2nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$28.00.

Open Text Stock Performance

The firm has a market capitalization of C$8.21 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.35 and a beta of 0.62. The company has a debt-to-equity ratio of 157.46, a current ratio of 0.87 and a quick ratio of 1.34. The firm has a 50-day moving average price of C$42.34 and a two-hundred day moving average price of C$46.31.

Open Text (TSE:OTEX) (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 net margin of 12.21% and a return on equity of 15.83%. The company had revenue of C$1.82 billion for the quarter. On average, analysts forecast that Open Text Co. will post 4.9036649 EPS for the current fiscal 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.