TD Issues Pessimistic Forecast for Open Text (TSE:OTEX) Stock Price

Open Text (TSE:OTEX) (NASDAQ:OTEX) had its price target cut by stock analysts at TD from C$28.00 to C$27.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s price target points to a potential downside of 19.14% from the stock’s previous close.

Separately, TD Securities decreased their price target on shares of Open Text from C$40.00 to C$28.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Open Text currently has an average rating of “Hold” and an average price target of C$27.50.

Open Text Price Performance

Shares of OTEX traded down C$0.42 during trading hours on Monday, reaching C$33.39. 409,761 shares of the stock traded hands, compared to its average volume of 1,407,356. The company has a current ratio of 0.92, a quick ratio of 1.34 and a debt-to-equity ratio of 161.91. Open Text has a 52-week low of C$27.63 and a 52-week high of C$56.00. The company’s 50-day moving average price is C$31.67 and its two-hundred day moving average price is C$39.72. The company has a market cap of C$8.32 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$1.40 EPS for the quarter. The business had revenue of C$1.78 billion for the quarter. Open Text had a net margin of 9.89% and a return on equity of 12.88%. On average, analysts anticipate that Open Text will post 4.9036649 earnings per share 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.