OTEX Price Prediction Next Week
Analysis and Insights
Technical Analysis:
Open Text Corp (OTEX) has entered oversold territory with an RSI of 28.5, indicating potential buying opportunities. The stock price has dropped to $25.07, and the recent annualized dividend yield of 4.12% adds attractiveness for dividend investors.
News Sentiment and Fundamental Analysis:
Open Text Corp has unveiled an AI-powered cybersecurity solution, positioning itself favorably in the growing Extended Detection and Response market. This launch is expected to strengthen OTEX's prospects in the cybersecurity sector.
The Invesco International Dividend Achievers ETF (PID) holds OTEX, with analysts anticipating a 35.80% upside for OTEX, targeting a price of $35.20.
Fibonacci Levels and Technical Indicators:
- Fibonacci R1: $26.92
- Fibonacci S1: $24.83
- MACD: -0.74
- Bollinger Bands: The stock is near the lower band, suggesting potential rebound.
Conclusion:
Based on the oversold condition, positive news, and analyst expectations, the stock is expected to rebound. The target price for the next trading week is $27.41, with a BUY recommendation.
OTEX Similar Chart Price Prediction
The price of OTEX is predicted to go up 8.53%, based on the high correlation periods with PRGO. The similarity of these two price pattern on the periods is 98.17%.
OTEX
PRGO
Up: 8.53%Similarity: 98.17%
OTEX Revenue Forecast
OTEX EPS Forecast
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OTEX Analyst's Forecast
Steven Enders
Citigroup
Hold
2025-01-16
Price Target
$33 → $30
Upside
+5.78%
Citi lowered the firm's price target on OpenText to $30 from $33 and keeps a Neutral rating on the shares as part of a 2025 outlook for application software. Following improving software sentiment in Q4 and a recent valuation reset, Citi sees "stable to improving demand and multiple thematic upside drivers supporting a more constructive view" into 2025 for the application software group. Core themes include artificial intelligence monetization, small business tailwinds, SAP cloud cycle, regulatory changes, and "warming" capital markets, the analyst tells investors in a research note.
Seth Gilbert
UBS
Hold
2024-12-17
Price Target
$32
Upside
+15.94%
Raimo Lenschow
Barclays
Hold
2024-11-01
Price Target
$36 → $34
Upside
+17.32%
