Open Text Corp [NASDAQ: OTEX] traded at a high on Wednesday, posting a 1.64 gain after which it closed the day’ session at $26.01.
The results of the trading session contributed to over 11046029 shares changing hands. Over the past one week, the price volatility of Open Text Corp stands at 2.94% while the volatility over the past one month is 3.02%.
The market cap for OTEX stock reached $6.87 billion, with 263.73 million shares outstanding and 256.52 million shares in the current float. Compared to the average trading volume of 790.17K shares, OTEX reached a trading volume of 11046029 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Open Text Corp [OTEX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTEX shares is $34.99 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTEX stock is a recommendation set at 2.62. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for Open Text Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 17, 2024. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $45 to $33. The new note on the price target was released on November 01, 2024, representing the official price target for Open Text Corp stock. On May 03, 2024, analysts decreased their price target for OTEX shares from 50 to 38.
The Average True Range (ATR) for Open Text Corp is set at 0.76, with the Price to Sales ratio for OTEX stock in the period of the last 12 months amounting to 1.27. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 4.25. Price to Free Cash Flow for OTEX in the course of the last twelve months was 10.23 with Quick ratio for the last quarter at 0.85.
How has OTEX stock performed recently?
Open Text Corp [OTEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.03. With this latest performance, OTEX shares dropped by -10.74% in over the last four-week period, additionally sinking by -18.26% over the last 6 months – not to mention a drop of -33.75% 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 36.22, with the RSI for the last a single of trading hit 34.43, and the three-weeks RSI is set at 38.22 for Open Text Corp [OTEX]. The present Moving Average for the last 50 days of trading for this stock 28.02, while it was recorded at 25.76 for the last single week of trading, and 30.22 for the last 200 days.
Open Text Corp [OTEX]: Deeper insight into the fundamentals
Open Text Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.85 and a Current Ratio set at 0.85.
Earnings analysis for Open Text Corp [OTEX]
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 Corp go to 3.83%.
Insider trade positions for Open Text Corp [OTEX]
The top three institutional holders of OTEX stocks are: JARISLOWSKY, FRASER LTD with ownership of 15.7 million shares, which is approximately 5.7826%. ROYAL BANK OF CANADA, holding 13.59 million shares of the stock with an approximate value of $$408.25 million in OTEX stocks shares; and ROYAL BANK OF CANADA, currently with $$387.1 million in OTEX stock with ownership which is approximately 4.7468%.
