Stock Rating Downgrade
In the last week the Value Trend Rating for Open Text Corp (NASDAQ: OTEX) weakened from C to D reflecting eroding fundamentals and low Appreciation Potential.
Recent Price Action
Open Text Corp (NASDAQ: OTEX) stock closed at $30.22 on 8/9/24 after a modest gain of 0.7%. Trading volume in this advance was normal. The stock has declined -0.9% during the last week and has been extremely weak relative to the market over the last nine months.
Current PriceTarget Research Rating
OTEX is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Open Text has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Open Text has a slightly positive Appreciation Score of 67 but a very low Power Rating of 5, triggering the Negative Value Trend Rating.
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