Open Text Stock (NASDAQ:OTEX), Trade Ideas

Open Text

Open Text Corp grew out of a technology project involving the Oxford English Dictionary at Canada's University of Waterloo in the mid-1980s. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, and presentations). The OpenText Information Management platform and services provide secure and scalable solutions for global enterprises, SMBs, governments, and consumers around the world. It also accelerates transformations with intelligent tools and services. The company is based in Ontario, Canada.

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	Micro Focus International plc (NYSE: MFGP) shares surged 92% to close at $6.01 on Friday after the company reached an agreement with OpenText to be acquired for $6 billion.


Why Everbridge Jumped Over 17%; Here Are 90 Biggest Movers From Friday

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	Affirm Holdings, Inc. (NASDAQ: AFRM) shares fell 12.7% to $27.27 in pre-market trading after the company reported worse-than-expected Q4 EPS results and issued Q1 FY23 sales guidance below estimates.


Dell Technologies, Open Text And Some Other Big Stocks Moving Lower In Today&#39;s Pre-Market Session

Open Text Corp

OpenText Renews Commercial Partner License Agreement With X12

Citigroup analyst Steven Enders maintains Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) with a Neutral and lowers the price target from $44 to $42.

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Analyst Ratings

Citigroup Maintains Neutral on Open Text, Lowers Price Target to $42

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MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc.

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Shares of several software companies are trading lower as Treasury yields rise following a greater-than-expected increase in U.S. January inflation data.

OpenText's Innovative Approach to Threat Intelligence Empowers Cyber Defenders and Strengthens U.S. Government Cybersecurity Resilience
WATERLOO, ON, Feb. 13, 2024 /CNW/ -- <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4090322-1&amp;h=2877852257&amp;u=https%3A%2F%2Fwww.opentext.com%2F&amp;a=OpenText%E2%84%A2">OpenText&#x2122;</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>), (TSX:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#TSX">OTEX</a>),&nbsp;has been named a member of the U.S. Government public-private cybersecurity initiative, Joint Cyber Defense Collaborative (JCDC). This collaborative effort, established by the Cybersecurity and Infrastructure Security Agency (CISA), is dedicated to elevating the cybersecurity posture of the U.S. government and its strategic international partners.
"OpenText is honored to join the JCDC and contribute to its mission of enhancing the cybersecurity of the U.S. government and its allies," said Mark Barrenechea, OpenText CEO and CTO. "We believe that OpenText threat intelligence capabilities and insights will complement the efforts of the other JCDC members and create a more secure and resilient cyber ecosystem in support of mission."
As a member, OpenText will support JCDC's mission to shift the paradigm from reacting to threats and vulnerabilities to proactively planning and taking steps to mitigate them. These efforts will help strengthen the government's security management practices which are essential to protect sensitive data from threat actors. OpenText will empower cyber defenders with:
<ul>
<li>Knowledge of how threat actors behave: OpenText provides a wealth of knowledge and experience starting with its BrightCloud&#xAE; threat intelligence telemetry, which offers visibility into the behaviors and activities of threat actors. This insight spans SMBs, consumers, and enterprises. The consumer angle is unique to what other JCDC members offer and is a valuable addition to the mission, as targeted attacks frequently extend to family members and friends of high-value assets as a way to get to the desired target.</li>
<li>Intelligence at the beginning of an attack lifecycle: With cyDNA, OpenText introduces active risk intelligence, tracking threat actors in the early stages of their attack lifecycle. This proactive approach enables the identification of potential threats before they gain initial access, offering crucial situational awareness to halt attackers before they achieve their objectives.</li>
<li>Insight to secure and create resiliency within software supply chains: OpenText addresses the critical aspect of securing software supply chains through its Debricked solution. By providing threat intelligence on open-source code, OpenText empowers developers to make informed decisions, minimizing the introduction of risks into their development environments. This initiative aligns with JCDC's overarching goal of creating resilience within software supply chains.</li>
<li>Support for CISA analysts and global cyber defenders: OpenText's commitment extends to supporting CISA analysts and global cyber defenders by actively sharing threat intelligence, including behaviors and indicators. This knowledge transfer enhances overall threat hunting efforts, fostering a deeper understanding of evolving threats within the threat intelligence community.</li>
</ul>
"Partnering with the&nbsp;JCDC provides OpenText the opportunity to help anchor and elevate cyber defense for this nation," says Kevin E. Greene, Public Sector, <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4090322-1&amp;h=761102903&amp;u=https%3A%2F%2Fwww.opentext.com%2Fwhat-is%2Fcyber-security&amp;a=OpenText+Cybersecurity">OpenText Cybersecurity</a>. "As a former DHS alum, it is an honor to be the partner lead for OpenText as we join forces with the JCDC to disrupt adversarial activities with relentless resilience through early warning capabilities and actionable threat intelligence."
To learn more about OpenText's efforts in the public sector, visit us at the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4090322-1&amp;h=83998895&amp;u=https%3A%2F%2Fevents.govexec.com%2Fopentext-government-summit-2024%2F&amp;a=OpenText+Government+Summit+on+March+5">OpenText Government Summit on March 5</a> in Washington, D.C., and discover how OpenText helps government leaders meet their mission.

TSX:OTEX

OpenText Joins The Joint Cyber Defense Collaborative To Enhance U.S. Government Cybersecurity

RBC Capital analyst Paul Treiber reiterates Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) with a Outperform and maintains $53 price target.

Reiteration

RBC Capital Reiterates Outperform on Open Text, Maintains $53 Price Target

Open Text shares are trading lower after the company reported Q2 financial results.

Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) reported its Q2 earnings results on Thursday, February 1, 2024 at 04:01 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Open Text beat estimated earnings by 4.2%, reporting an EPS of $1.24 versus an estimate of $1.19.
Revenue was up $637.56 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.11 which was followed by a 5.34% increase in the share price the next day.
Here's a look at Open Text's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.90</td>
<td>0.94</td>
<td>0.47</td>
<td>1.04</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.01</td>
<td>0.91</td>
<td>0.73</td>
<td>0.89</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>1.40B</td>
<td>1.51B</td>
<td>1.18B</td>
<td>1.16B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>1.43B</td>
<td>1.49B</td>
<td>1.25B</td>
<td>897.44M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Open Text <a href="https://www.benzinga.com/quote/OTEX/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Open Text: Q2 Earnings Insights

Recap: Open Text Q2 Earnings

Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) reported quarterly earnings of $1.24 per share which beat the analyst consensus estimate of $1.19 by 4.2 percent. This is a 39.33 percent increase over earnings of $0.89 per share from the same period last year. The company reported quarterly sales of $1.53 billion which beat the analyst consensus estimate of $1.50 billion by 2.33 percent. This is a 71.04 percent increase over sales of $897.44 million the same period last year.

Open Text Q2 Adj EPS $1.24 Beats $1.19 Estimate, Sales $1.53B Beat $1.50B Estimate

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Earnings Scheduled For February 1, 2024

Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) is set to give its latest quarterly earnings report on Thursday, 2024-02-01. Here's what investors need to know before the announcement.
Analysts estimate that Open Text will report an earnings per share (EPS) of $1.19. 
Open Text bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.11, which was followed by a 5.34% increase in the share price the next day.
Here's a look at Open Text's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.90</td>
<td>0.94</td>
<td>0.47</td>
<td>1.04</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.01</td>
<td>0.91</td>
<td>0.73</td>
<td>0.89</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.34%</td>
<td>-9.12%</td>
<td>13.27%</td>
<td>4.33%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706709720_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Open Text were trading at $44.03 as of January 29. Over the last 52-week period, shares are up 32.38%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/OTEX/earnings">To track all earnings releases for Open Text visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Open Text's Earnings

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Shares of software stocks are trading lower amid a rise in Treasury yields and amid overall market weakness.