Open Text Corporation [OTEX] Stock trading around $32.61 per share: What’s Next?

Open Text Corporation [NASDAQ: OTEX] stock went on an upward path that rose over 0.93% on Friday, amounting to a one-week price increase of more than 7.02%. The company report on January 10, 2023 that OpenText to Report Second Quarter Fiscal Year 2023 Financial Results on Thursday, February 2, 2023.


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– Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), announced today that financial results for its second quarter fiscal year 2023 will be released on Thursday, February 2, 2023, at approximately 4:00 p.m. ET.

Over the last 12 months, OTEX stock dropped by -29.99%. The average equity rating for OTEX stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $8.70 billion, with 269.80 million shares outstanding and 265.54 million shares in the current float. Compared to the average trading volume of 713.74K shares, OTEX stock reached a trading volume of 756549 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Open Text Corporation [OTEX]:

Citigroup have made an estimate for Open Text Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 01, 2022. The new note on the price target was released on August 26, 2022, representing the official price target for Open Text Corporation stock. Previously, the target price had yet another raise to $56, while Barclays analysts kept a Equal Weight rating on OTEX stock. On July 11, 2019, analysts increased their price target for OTEX shares from 42 to 48.

The Average True Range (ATR) for Open Text Corporation is set at 0.88, with the Price to Sales ratio for OTEX stock in the period of the last 12 months amounting to 2.47. The Price to Book ratio for the last quarter was 2.29, with the Price to Cash per share for the same quarter was set at 6.39. Price to Free Cash Flow for OTEX in the course of the last twelve months was 15.02 with Quick ratio for the last quarter at 1.40.

OTEX Stock Performance Analysis:

Open Text Corporation [OTEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.02. With this latest performance, OTEX shares gained by 9.95% in over the last four-week period, additionally sinking by -14.43% over the last 6 months – not to mention a drop of -29.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OTEX stock in for the last two-week period is set at 71.14, with the RSI for the last a single of trading hit 77.24, and the three-weeks RSI is set at 66.07 for Open Text Corporation [OTEX]. The present Moving Average for the last 50 days of trading for this stock 29.23, while it was recorded at 31.67 for the last single week of trading, and 34.34 for the last 200 days.

Insight into Open Text Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Open Text Corporation [OTEX] shares currently have an operating margin of +19.81 and a Gross Margin at +60.86. Open Text Corporation’s Net Margin is presently recorded at +11.37.

Return on Equity for this stock inclined to 9.79, with Return on Assets sitting at 4.02.

Open Text Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

OTEX Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OTEX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Open Text Corporation go to -2.70%.

Open Text Corporation [OTEX] Insider Position Details

There are presently around $5,715 million, or 77.80% of OTEX stock, in the hands of institutional investors. The top three institutional holders of OTEX stocks are: JARISLOWSKY, FRASER LTD with ownership of 14,874,401, which is approximately -1.74% of the company’s market cap and around 2.30% of the total institutional ownership; FMR LLC, holding 14,627,607 shares of the stock with an approximate value of $477.01 million in OTEX stocks shares; and ROYAL BANK OF CANADA, currently with $393.26 million in OTEX stock with ownership of nearly -6.204% of the company’s market capitalization.

Positions in Open Text Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 142 institutional holders increased their position in Open Text Corporation [NASDAQ:OTEX] by around 22,055,640 shares. Additionally, 141 investors decreased positions by around 21,216,801 shares, while 32 investors held positions by with 131,976,522 shares. The mentioned changes placed institutional holdings at 175,248,963 shares, according to the latest SEC report filing. OTEX stock had 45 new institutional investments in for a total of 5,965,552 shares, while 50 institutional investors sold positions of 5,782,304 shares during the same period.

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