Open Text (OTEX) Downgraded to “Sell” at BidaskClub
Open Text (NASDAQ:OTEX) (TSE:OTC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
A number of other brokerages also recently issued reports on OTEX. Royal Bank Of Canada reissued a “buy” rating and set a $40.00 price target on shares of Open Text in a report on Monday, October 30th. TD Securities increased their price target on shares of Open Text from $38.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. CIBC increased their price target on shares of Open Text from $41.00 to $42.00 in a report on Friday, November 3rd. BMO Capital Markets lowered their price target on shares of Open Text from $40.00 to $38.00 in a report on Friday, November 3rd. Finally, Barclays increased their price target on shares of Open Text from $54.00 to $55.00 in a report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $42.27.
Open Text (OTEX) traded up $0.19 during mid-day trading on Tuesday, hitting $32.53. 395,513 shares of the stock traded hands, compared to its average volume of 574,900. The stock has a market cap of $8,636.13, a P/E ratio of 57.07 and a beta of 0.44. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.74. Open Text has a fifty-two week low of $29.58 and a fifty-two week high of $35.45.
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About Open Text
Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.
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