Open Text (OTEX) Projected to Post Quarterly Earnings on Thursday

Open Text (NASDAQ:OTEX) (TSE:OTC) is anticipated to post its quarterly earnings results after the market closes on Thursday, February 6th. Analysts expect Open Text to post earnings of $0.92 per share and revenue of $1.32 billion for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Open Text Stock Performance

Shares of OTEX stock opened at $29.37 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. The stock has a 50 day simple moving average of $28.92 and a 200-day simple moving average of $30.65. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 16.98 and a beta of 1.12. Open Text has a 12-month low of $26.84 and a 12-month high of $43.13.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OTEX shares. Royal Bank of Canada cut Open Text from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $45.00 to $33.00 in a research report on Friday, November 1st. Barclays reduced their price objective on shares of Open Text from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Scotiabank lowered their target price on shares of Open Text from $40.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. BMO Capital Markets reduced their price target on shares of Open Text from $33.00 to $32.00 and set a “market perform” rating for the company in a research report on Friday, November 1st. Finally, TD Securities decreased their price target on Open Text from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Open Text has a consensus rating of “Hold” and an average 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.