Short interest for Open Text gives investors a sense of the degree to which investors are betting on the decline of Open Text's stock. Short interest data is updated every two weeks.

Open Text Stock (NASDAQ:OTEX), Short Interest Report

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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Stem Reports Downbeat Results, Joins Sprout Social, Cloudflare And Other Big Stocks Moving Lower In Friday&#39;s Pre-Market Session

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U.S. stocks closed sharply lower with the Dow Jones tumbling more than 1,000 points on Friday. Here is the list of some big stocks moving lower in the previous session.

Apple, Amazon, HP And Other Big Losers From Friday

Penny Stocks

ACON

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Kiora Pharmaceuticals, Inc. - Common Stock

KPRX

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Gainers


	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

Open Text Corp

Open Text Corporation (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>) today announced that, as previously indicated, it completed its $2 billion debt reduction using the net proceeds from its AMC divestiture, which reflects $940 million paid to terminate the Company's Term Loan B due 2025 and $1.06 billion to reduce amounts outstanding under its Acquisition Term Loan due 2030.

Financing

TSX:OTEX

OpenText Completes $2B Debt Reduction

Barclays analyst Raimo Lenschow maintains Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) with a Equal-Weight and lowers the price target from $44 to $38.

Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on Open Text, Lowers Price Target to $38

U.S. stock futures were higher this morning, with the Dow futures gaining over 250 points on Friday.
Shares of Stem, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEM#NYSE">STEM</a>) shares fell sharply in today's pre-market trading after the company reported worse-than-expected first-quarter financial results and <a href="https://www.benzinga.com/quote/STEM/earnings">cut its FY24 revenue guidance</a>.
Stem posted a quarterly loss of 46 cents per share, versus market expectations for a loss of 21 cents per share. The company's quarterly sales came in at $25.47 million missing estimates of $57.11 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Stem shares dipped 18.7% to $1.55 in pre-market trading in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Sprout Social, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPT#NASDAQ">SPT</a>) shares declined 25.2% to $36.00 in pre-market trading after the company reported worse-than-expected first-quarter revenue results.</li>
<li>Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) fell 14% to $76.50 pre-market trading after the company reported first-quarter financial results and issued FY24 revenue guidance below estimates.</li>
<li>Trupanion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUP#NASDAQ">TRUP</a>) shares declined 13% to $20.68 in pre-market trading following first-quarter results.</li>
<li>Adient plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADNT#NYSE">ADNT</a>) dipped 12.3% to $26.51 in pre-market trading after the company posted second-quarter results and lowered its FY24 outlook.</li>
<li>BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>) shares fell 12.1% to $1.52 in pre-market trading after the company reported worse-than-expected first-quarter financial results.</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) shares declined 10.1% to $121.92 in pre-market trading after the company lowered its full-year guidance.</li>
<li>Open Text Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) shares fell 9.8% to $32.00 in pre-market trading following third-quarter results. BMO Capital downgraded the stock from Outperform to Market Perform and lowered its price target from $50 to $38.</li>
<li>Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) fell 8.3% to $59.81 pre-market trading after the company reported its first-quarter financial results.</li>
<li>Custom Truck One Source, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTOS#NYSE">CTOS</a>) fell 7.5% to $4.5304 in pre-market trading after the company reported worse-than-expected first-quarter financial results and cut its FY24 revenue outlook.</li>
<li>Cryoport, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYRX#NASDAQ">CYRX</a>) fell 6.7% to $16.00 in pre-market trading. B. Riley Securities analyst Yuan Zhi downgraded CryoPort from Buy to Neutral and lowered the price target from $22 to $19.</li>
<li>Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>) fell 6.4% to $38.57 in pre-market trading following weak first-quarter earnings.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) declined 4.4% to $218.80 in pre-market trading following first-quarter earnings.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/05/38606493/apple-hershey-and-3-stocks-to-watch-heading-into-friday">Apple, Hershey And 3 Stocks To Watch Heading Into Friday</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage</a> here

Stem Reports Downbeat Results, Joins Sprout Social, Cloudflare And Other Big Stocks Moving Lower In Friday's Pre-Market Session

WIIM

Open Text shares are trading lower after BMO Capital downgraded the stock from Outperform to Market Perform and lowered its price target from $50 to $38.

BMO Capital analyst Thanos Moschopoulos downgrades Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) from Outperform to Market Perform and lowers the price target from $50 to $38.

Downgrades

BMO Capital Downgrades Open Text to Market Perform, Lowers Price Target to $38

Open Text (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTEX#NASDAQ">OTEX</a>) reported quarterly earnings of $0.94 per share which met the analyst consensus estimate. This is a 28.77 percent increase over earnings of $0.73 per share from the same period last year. The company reported quarterly sales of $1.447 billion which beat the analyst consensus estimate of $1.431 billion by 1.12 percent. This is a 16.22 percent increase over sales of $1.245 billion the same period last year.

Earnings

Earnings Beats

Open Text Q3 2024 Adj EPS $0.94, Inline, Sales $1.447B Beat $1.431B Estimate

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.

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

ADEA

ADSK

ANSS

APPN

APPS

ARBK

ASAN

AWRE

BTBT

BTDR

CCSI

CIFR

CYBR

DMRC

DTSS

ESTC

EXFY

FIVN

GREE

GRYP

INFA

INTU

LPSN

MARK

MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc.

MIGI

MTTR

OSPN

PATH

PHUN

PLTR

PWSC

QTWO

SNPS

SSTI

TEAM

WULF

XTKG

ZENV

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.

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.

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