On 5/3/24, Open Text Corp (NASDAQ: OTEX) stock suffered a major decline of -14.7%, closing at $30.25. Moreover, exceptionally high trading volume at 554% of normal accompanied the decline. The stock has performed in line with the market over the last nine months and has declined -15.4% 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). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Open Text has a good Appreciation Score of 81 but a neutral Power Rating of 41, resulting in the High Neutral Value Trend Rating.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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