Open Text Corp (NASDAQ: OTEX) has recently enjoyed extremely important positive changes in investment behavior: the stock rose on very heavy volume, and its shorter term price trend turned up.
Meaningful 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 B. We would continue to 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 exceed the cost of capital.
Open Text has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Open Text has a neutral Power Rating of 57 but a good Appreciation Score of 72, triggering the Positive Value Trend Rating.
Recent Price Action
Open Text Corp (NASDAQ: OTEX) stock rose modestly by 0.8% on 11/29/23. The stock closed at $40.67. Moreover, exceptionally high trading volume at 208% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and has risen 4.5% during the last week.
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