Open Text Corp (NASDAQ: OTEX) has recently enjoyed extremely important positive changes in investment behavior: its shorter term price trend turned up, and positive upside/downside volume developed.
Notable positive changes in fundamentals have recently occurred for Open Text Corp (NASDAQ: OTEX): significant quarterly earnings acceleration occurred, and significant quarterly sales acceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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 C (Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Open Text has a good Appreciation Score of 76 but a poor Power Rating of 23, resulting in the Neutral Value Trend Rating.
Recent Price Action
On 7/18/24, Open Text Corp (NASDAQ: OTEX) stock declined modestly by -1.5%, closing at $30.85. However, trading volume in this decline was normal at 83% of normal. Relative to the market the stock has been extremely weak over the last nine months and has declined -1.1% during the last week.
Be the first to comment