Open Text (TSE:OTEX) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

Open Text Co. (TSE:OTEX) (NASDAQ:OTEX)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$32.24 and traded as low as C$31.63. Open Text shares last traded at C$31.82, with a volume of 850,110 shares.

Wall Street Analyst Weigh In

Separately, TD Securities dropped their price objective on Open Text from C$40.00 to C$28.00 and set a “hold” rating for the company in a research note on Monday, February 2nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Open Text presently has an average rating of “Hold” and an average target price of C$28.00.

Open Text Trading Up 1.1%

The company has a market cap of C$8.01 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. The company’s fifty day moving average price is C$32.20 and its two-hundred day moving average price is C$41.78. The company has a quick ratio of 1.34, a current ratio of 0.94 and a debt-to-equity ratio of 163.06.

Open Text (TSE:OTEX) (NASDAQ:OTEX) last posted its quarterly earnings data on Thursday, February 5th. The company reported C$1.55 earnings per share for the quarter. The company had revenue of C$1.82 billion during the quarter. Open Text had a net margin of 8.42% and a return on equity of 10.83%. Research analysts expect that Open Text Co. 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.