Open Text (NASDAQ:OTEX) Releases Earnings Results

Open Text (NASDAQ:OTEX) (TSE:OTC) posted its quarterly earnings results on Thursday. The software maker reported $1.02 EPS for the quarter, beating the consensus estimate of $0.92 by $0.10, Zacks reports. Open Text had a net margin of 8.35% and a return on equity of 24.34%.

Open Text Stock Performance

Shares of OTEX stock traded down $0.86 during trading hours on Thursday, reaching $29.53. 893,542 shares of the company’s stock were exchanged, compared to its average volume of 572,111. The business has a fifty day moving average price of $28.92 and a 200-day moving average price of $30.65. The stock has a market capitalization of $7.79 billion, a P/E ratio of 17.07 and a beta of 1.12. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.54. Open Text has a fifty-two week low of $26.84 and a fifty-two week high of $42.17.

Analyst Ratings Changes

Several research analysts have weighed in on OTEX shares. BMO Capital Markets dropped their target price on Open Text from $33.00 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, November 1st. StockNews.com lowered shares of Open Text from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 27th. Barclays decreased their target price on shares of Open Text from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Scotiabank reduced their price objective on shares of Open Text from $40.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Finally, Citigroup lowered their target price on shares of Open Text from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.27.

About Open Text

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.