Stock Rating Downgrade
In recent days the Value Trend Rating for Open Text Corp (NASDAQ: OTEX) weakened from B to C reflecting eroding fundamentals and low Appreciation Potential.
Recent Price Action
Open Text Corp (NASDAQ: OTEX) stock declined modestly by -1.2% on 4/8/24. The stock closed at $37.15. This decline was accompanied by normal trading volume. The stock has performed in line with the market over the last nine months and has declined -4.3% during the last week.
Current PriceTarget Research Rating
OTEX’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Open Text has a current Value Trend Rating of C (High Neutral). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Open Text has a neutral Power Rating of 51 but a good Appreciation Score of 72, triggering the High Neutral Value Trend Rating.
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