OpenText Stock Is Down: Buy the Dip — or Run for Cover? [Yahoo! Finance Canada]
Open Text Corporation - Common Shares (OTEX)
Last open text corporation - common shares earnings: 4/30 04:01 pm
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US:NASDAQ Investor Relations:
investors.opentext.com/investor-relations
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Source: Yahoo! Finance Canada
This is the steepest dip since the 2022 tech meltdown, when the stock fell 46% from September 2021 to September 2022. The stock is now trading at around $40. Is this the time to buy the dip or run for cover? Is OpenText stock buying the dip? The latest dip comes as OpenText reduced its fiscal 2024 outlook for adjusted earnings before interest, taxes, depreciation, and amortization margin from 36%-37% to 33.5%-34.5%. It even reduced its free cash flow outlook from US$825 million-US$900 million to US$725 million-US$800 million. The dip in guidance reflects the exclusion of its cash-rich mainframe business, AMC. ADVERTISEMENT If you look at OpenText fundamentals from a long-term perspective, the market seems to have overreacted to the reduction in guidance. The company has several bull cases that make the stock a buy the dip. The bull case of OpenText OpenText is an information management cloud solutions provider that helps customers simplify their systems, connect their data
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OTEX
News
- Open Text Co. (NASDAQ: OTEX) had its price target lowered by analysts at Citigroup Inc. from $37.00 to $32.00. They now have a "neutral" rating on the stock.MarketBeat
- Europe Enterprise File Synchronization And Sharing Market to Hit Valuation of USD 12,491.5 Million By 2032 | Astute Analytica [Yahoo! Finance]Yahoo! Finance
- Open Text Co. (NASDAQ: OTEX) had its price target lowered by analysts at CIBC from $38.50 to $36.00. They now have a "neutral" rating on the stock.MarketBeat
- Growth And Income? These Tech Stocks Offer Both [Yahoo! Finance]Yahoo! Finance
- Sidetrade secures majority control of SHS Viveon AG [Yahoo! Finance]Yahoo! Finance
OTEX
Earnings
- 5/2/24 - Beat
OTEX
Sec Filings
- 5/15/24 - Form 8-K
- 5/8/24 - Form 8-K
- 5/2/24 - Form 10-Q
- OTEX's page on the SEC website