Stock Price Update: Open Text Corporation
On Tuesday, Open Text Corporation stock disclosed a move of 5.22% away from 50 day moving average and 13.21% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.84% away off 20-day moving average. OTEX over recent time; they noted that 740603 shares changed at hands contradiction to its average trading volume of 394.73K. Traders and technical analysts have the ability to use volume to help measure the strength of a particular move. Investors may also view volume levels when the stock price is nearing significant support or resistance levels, in order to confirm a breakout in either direction. The stock changed -0.59% to recent value of $47.52. There are 267.2M shares outstanding and 265.99M shares are floated in market.
OpenText™ (OTEX) recently issued the 2020 Webroot Threat Report, highlighting not only the agility and innovation of cybercriminals who continue to seek out new ways to evade defenses, but also their commitment to long-established attack methods. Most notably, Webroot observed a 640 percent increase in phishing attempts and a 125 percent increase in malware targeting Windows 7®. The report is derived from metrics captured and analyzed by Webroot’s advanced, cloud-based machine learning architecture: the Webroot® Platform.
“In the cybersecurity industry the only certainty is that there is no certainty, and there is no single silver bullet solution,” stated Hal Lonas, Senior Vice President and CTO, SMB and Consumer, OpenText. “The findings from this year’s report underline why it’s critical that businesses and users of all sizes, ensure they’re not only protecting their data but also preparing for future attacks by taking simple steps toward cyber resilience through a defense-in-depth approach that addresses user behavior and the best protection for network and endpoints.”
Analyst recommendations as reported on FINVIZ are rated on a 1 to 5 scale. 1 is equivalent to a Strong Buy rating, 3 a hold rating, and 5 a Strong Sell rating. The consensus recommendation is the average rating on a stock by the analyst community. Analyst mean recommendation for this stock stands at 2.3. A stock rating will usually tell the investor how well a stock’s market value relates to what analysts believe is a fair value for the stock, based on an objective evaluation of the company.
OTEX’s shares are at 9.52% for the quarter and driving a 26.52% return over the course of the past year and is now at 7.83% since this point in 2019. The average volatility for the week and month was at 1.58% and 1.52% respectively.
Is OTEX Stock being Risky?
You invest to earn a return on your money, but returns are not the only consideration. Risk and return are connected. Generally, the higher the risk of an investment, the higher the potential return. Here beta – measures how the stock is doing compared to a given benchmark, such as the S&P TSX Composite Index. A beta of 1.0 tells you that a stock has been going up and down with the overall stock market. A stock with a beta between 0.0 and 1.0 has smaller ups and downs. A beta greater than 1.0 has wider price swings. Stocks with a negative beta are moving opposite to the index. When you invest in a stock, you could lose all of your money – in some cases, more than you invested. Before you buy a stock, understand the risks and decide if they are risks you are comfortable taking. Currently OTEX has beta value of 0.58.