Open Text Corporation engages in the designs, develops, markets, and sells information management software and solutions. It offers content services; business network that manages data within the organization and outside the firewall; security and protection solutions for defending against cyber threats, and preparing for business continuity and response in the event of a breach; digital investigation and forensic security solutions; OpenText security solutions to address information cyber resilience needs; Carbonite and Webroot products; and OpenText Information Management software platform. The company also provides Discovery platform that provides forensics and unstructured data analytics; OpenText Developer Cloud; key developer API services; AI and analytics that leverages structured or unstructured data; digital process automation solutions, which enables organizations to transform into digital data-driven businesses; and OpenText Digital Experience platform. In addition, it offers customer support programs, including access to software upgrades, a knowledge base, discussions, product information, and an online mechanism to post and review trouble tickets; and consulting and learning services relating to the implementation, training, and integration of its licensed product offerings, as well as cloud services. The company serves organizations, enterprise and mid-market companies, public sector agencies, small and medium-sized businesses, and direct consumers in Canada, the United States, the United Kingdom, Germany, rest of Europe, the Middle East, Africa, and internationally. It has strategic partnerships with SAP SE, Google Cloud, Amazon AWS, Microsoft Corporation, Oracle Corporation, Salesforce.com Corporation, Accenture plc, ATOS, Capgemini Technology Services SAS, Cognizant Technology Solutions U.S. Corp., Deloitte Consulting LLP, and Tata Consultancy Services. The company was incorporated in 1991 and is headquartered in Waterloo, Canada.
IPO Year: 1996
Exchange: NASDAQ
Website: opentext.com
Date | Price Target | Rating | Analyst |
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11/1/2024 | $45.00 → $33.00 | Outperform → Sector Perform | RBC Capital Mkts |
8/2/2024 | Outperform → Sector Perform | National Bank Financial | |
5/3/2024 | $50.00 → $38.00 | Outperform → Market Perform | BMO Capital Markets |
2/27/2024 | $45.00 | Buy | Jefferies |
3/22/2023 | $41.00 | Equal Weight | Barclays |
9/1/2022 | $34.00 | Neutral | Citigroup |
8/26/2022 | Sector Outperform → Neutral | CIBC | |
8/6/2021 | $60.00 → $62.00 | Outperform | RBC Capital |
8/6/2021 | $56.00 → $57.00 | Equal-Weight | Barclays |
6/30/2021 | $56.00 | Overweight → Equal-Weight | Barclays |
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CIBC analyst Stephanie Price maintains Open Text (NASDAQ:OTEX) with a Neutral and lowers the price target from $36 to $33.
Citigroup analyst Steven Enders maintains Open Text (NASDAQ:OTEX) with a Neutral and lowers the price target from $37 to $32.
CIBC analyst Stephanie Price maintains Open Text (NASDAQ:OTEX) with a Neutral and lowers the price target from $38.5 to $36.
Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), today announced that it has purchased Pillr, an MDR platform from Novacoast, Inc.Pillr technology is a cloud native, multi-tenant MDR platform for Managed Service Providers (MSPs) that includes Managed Detection and Response and powerful threat-hunting capabilities. This combination of Pillr technology and OpenText security expertise provides enhanced threat hunting, monitoring, and response for customers where skill gaps, skill shortages, and alert fatigue create a significant need today.The acquisition accelerates OpenText's Cybersecurity product roadmap to offer key features including API integrations and product/pricing bundling for MSPs s
Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX) 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.
Barclays analyst Raimo Lenschow maintains Open Text (NASDAQ:OTEX) with a Equal-Weight and lowers the price target from $44 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:STEM) shares fell sharply in today's pre-market trading after the company reported worse-than-expected first-quarter financial results and cut its FY24 revenue guidance. 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 Benzinga Pro. 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 trad
BMO Capital analyst Thanos Moschopoulos downgrades Open Text (NASDAQ:OTEX) from Outperform to Market Perform and lowers the price target from $50 to $38.
Fulton, Md., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Sonatype®, the end-to-end software supply chain security platform, and OpenTextTM (NASDAQ:OTEX) are partnering to offer a single integrated solution that combines open-source and custom code security, making finding and fixing vulnerabilities faster than ever. Together, Sonatype's industry-leading Software Composition Analysis (SCA) solutions and Static and Dynamic Application Security Testing (SAST/DAST) from Fortify by OpenText offer a comprehensive, integrated security solution spanning the entire software development lifecycle. Sonatype's 2024 State of the Software Supply Chain® Report found that in 2024, some critical vulnerabilities to
Next-generation cloud, security, AI-integrated innovations unveiled at OpenText World 2024 WATERLOO, ON, Nov. 19, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) today unveiled Cloud Editions (CE) 24.4 at OpenText World 2024, presenting a suite of transformative advancements in Business Cloud, AI, and Technology to empower the future of AI-driven knowledge work. This release delivers secure, AI-integrated solutions that strengthen data connectivity, streamlines workflows, and enhances human potential—addressing the needs of forward-thinking CIOs and business leaders navigating multi-cloud environments.
New program helps Partners build skills and gives customers confidence in their Partner choice WATERLOO, ON, Nov. 18, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) announced a new Partner Enterprise Learning Subscription today at OpenText World 2024. The Partner Enterprise Learning Subscription gives Partners the ability to build the skills they need at scale and helps customers verify their Partner has the relevant product-related skills, giving them confidence in their choice of Partner. It is another important investment by OpenText in its Partner Network and mak
WATERLOO, ON, Nov. 18, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) today announced that the OpenText Partner Network now has expanded access to sell OpenText's entire portfolio of solutions for information management, including Content Services, Experience Management, Security, IT Operations Management, and Developer tools along with accelerants, such as cloud, artificial intelligence, automation and analytics. "This is a major milestone for our Partner Network, following our acquisition of Micro Focus," said Sandy Ono, EVP and Chief Marketing Officer, OpenText. "
Pioneering experts gather in Las Vegas to explore a future driven by AI knowledge workers, cloud, and next-generation security WATERLOO, ON, Nov. 15, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced its roster of keynote and guest speakers for OpenText World 2024, the leading information management conference, set to take place in-person and virtually at the Venetian Hotel Resort, Las Vegas, from November 18-21, 2024. This year's conference will bring together leading experts in business and technology to explore the transformative potential of AI and information management, focusing on how AI-driven knowledge workers will reimagine business operations for the next
Google Cloud and SAP confirmed as Innovator-level sponsors, supporting the future of AI and digital transformation WATERLOO, ON, Nov. 15, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced its full slate of interactive workshops, learning pathways, and business solution focus areas for OpenText World 2024, the premier event for information management, set to take place at the Venetian Resort in Las Vegas from November 18-21, 2024. This year's conference will spotlight cutting-edge integrations and solutions that seamlessly combine AI, cloud, and securit
As cyberattacks grow more insidious, organizations are ramping up cybersecurity investments to defend essential services WATERLOO, ON, Oct. 31, 2024 /PRNewswire/ -- OpenText (NASDAQ:OTEX), (TSX:OTEX), has revealed its highly anticipated "Nastiest Malware of 2024" list, spotlighting the year's most notorious cyber threats. Now in its seventh year, OpenText's cybersecurity experts have identified the most relentless and adaptive malware trends impacting industries worldwide. This year, ransomware aimed at critical infrastructure takes center stage, highlighting an urgent call for reinforced security to protect vital services. In response, organizations are projected to increase their cybersecu
Total Revenues of $1.27B, 15 Consecutive Quarters of Cloud Organic GrowthDelivers Net Income Margin of 7%, Robust Adjusted EBITDA Margin of 35.0%GAAP EPS of $0.32, Non-GAAP EPS of $0.93Purchased and Canceled 7.72M Shares Over the Last Two Quarters Fiscal 2025 First Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) $1,269 $1,053 $457 (11.0) % (8.4) % +1.3 % Annual Recurring Revenues represent 83% of Total Revenues "In our first full quarter after the AMC divestiture, we delivered $1.27 billion in total revenues, 35% Adjusted EBITDA Margin, and our 15th consecutive quarter of organic cloud revenue growth," said Mark J. Barr
Company ranks in the top 20% of global companies included on this year's list WATERLOO, ON, Oct. 29, 2024 /PRNewswire/ -- OpenTextTM (NASDAQ:OTEX), (TSX:OTEX) today announced it has been named one of the World's Top Companies for Women 2024 by Forbes. The list, which is generated by Forbes in partnership with Statista, celebrates global companies that support women in the workplace. OpenText, which has been named to the list for the second consecutive year, ranked within the top 20% of global companies. Companies who received this recognition were evaluated through multiple gl
New bundles, integrated task management and enhanced billing capabilities empower MSPs to deliver comprehensive security services with ease WATERLOO, ON, Oct. 22, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) today announced a major evolution of its Secure Cloud platform, designed to drive growth for managed security providers (MSPs). With fresh features like automated provisioning, enriched product bundling, integrated task management and improved reporting and analytics, the platform streamlines MSP operations helping them focus on customer growth and retention.
Total Revenues of $1.27B, 15 Consecutive Quarters of Cloud Organic GrowthDelivers Net Income Margin of 7%, Robust Adjusted EBITDA Margin of 35.0%GAAP EPS of $0.32, Non-GAAP EPS of $0.93Purchased and Canceled 7.72M Shares Over the Last Two Quarters Fiscal 2025 First Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) $1,269 $1,053 $457 (11.0) % (8.4) % +1.3 % Annual Recurring Revenues represent 83% of Total Revenues "In our first full quarter after the AMC divestiture, we delivered $1.27 billion in total revenues, 35% Adjusted EBITDA Margin, and our 15th consecutive quarter of organic cloud revenue growth," said Mark J. Barr
WATERLOO, ON, Oct. 9, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its first quarter fiscal year 2025 will be released on Thursday, October 31, 2024, at approximately 7:00 a.m. ET. OpenText to Host Conference Call WebcastMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText President, CFO & Corporate Development will host a conference call webcast on October 31, 2024, at 9:00 a.m. ET from its Investor Relations website. Date: Thursday, October 31, 2024 Time: 9:00 a.m. ET/6:00 a.m. PT Length:
– Delivers Total Annual Revenues of $5.8 Billion with 29% Growth –– Announces New $300 Million Share Repurchase Program –– Increases Annualized Dividend By 5% – Fiscal 2024 Annual Highlights Y/Y Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) Reported Constant Currency Reported Constant Currency Reported Constant Currency $5,770 $5,729 $4,534 $4,506 $1,821 $1,816 +28.6 % +27.7 % +25.4 % +24.6 % +7.1 % +6.8 % Annual Recurring Revenues represent 79% of Total Revenues "OpenText delivered solid Fiscal 2024 financial results with total revenues of $5.8 billion, representing a 29% year-over-year growth, we grew organically, and delivered $2 bil
WATERLOO, ON, July 10, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its fourth quarter fiscal year 2024 will be released on Thursday, August 1, 2024, at approximately 4:00 p.m. ET. OpenText to Host Conference Call WebcastMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText President, CFO & Corporate Development will host a conference call webcast on August 1, 2024, at 5:00 p.m. ET from its Investor Relations website. Date: Thursday, August 1, 2024 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60
Record Q3 Total Revenues and Enterprise Cloud Bookings Announces $250 Million Share Repurchase Program Fiscal 2024 Third Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) Reported Constant Currency Reported Constant Currency Reported Constant Currency $1,447 $1,444 $1,146 $1,143 $455 $454 +16.3 % +16.0 % +13.3 % +13.1 % +4.4 % +4.4 % Annual Recurring Revenues represent 79% of Total Revenues Total revenues of $1.447 billion, up 16.3% Y/Y or up 16.0% in constant currency (CC)Annual Recurring Revenues (ARR) of $1.146 billion, up 13.3% Y/Y or up 13.1% in CCCloud revenues of $455 million, up 4.4% Y/Y and up 4.4% in CCQuarterly ent
WATERLOO, ON, April 9, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its third quarter fiscal year 2024 will be released on Thursday, May 2, 2024, at approximately 4:00 p.m. ET. OpenText to Host Conference Call WebcastMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText President, CFO & Corporate Development will host a conference call webcast on May 2, 2024, at 5:00 p.m. ET from its Investor Relations website. Date: Thursday, May 2, 2024 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60 minutes W
Record Total Revenues of $1.535 billion Up 71% Y/Y Record Enterprise Cloud Bookings Fiscal 2024 Second Quarter Highlights Total Revenues (in millions) Annual Recurring Revenues (in millions) Cloud Revenues (in millions) Reported ConstantCurrency Reported ConstantCurrency Reported ConstantCurrency $1,535 $1,509 $1,146 $1,128 $450 $446 +71.0 % +68.2 % +58.0 % +55.6 % +10.1 % +9.2 % Annual Recurring Revenues represent 75% of Total Revenues Record total revenues of $1.535 billion, up 71.0% Y/Y or up 68.2% in constant currency (CC)Annual Recurring Revenues (ARR) of $1.146 billion, up 58.0% Y/Y or up 55.6% in CCCloud revenues of $450 million, up 10.1% Y/Y or up 9.2% in CCRecord quarterly enterpri
WATERLOO, Ontario, Jan. 10, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its second quarter fiscal year 2024 will be released on Thursday, February 1, 2024, at approximately 4:00 p.m. ET. Teleconference CallMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText EVP, CFO will host a conference call on February 1, 2024, at 5:00 p.m. ET to discuss the company's financial results. Date: Thursday, February 1, 2024 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60 minutes Call-me: Use this Call Me link to
OpenText to Focus on Cloud and AI Opportunity Within Information Management WATERLOO, ON, Nov. 28, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), today announced that it has reached a definitive agreement to divest its AMC business to Rocket Software, Inc., a Bain Capital portfolio company ("Rocket Software"), for US$2.275 billion in cash. OpenText's AMC business provides market leading mainframe modernization and connectivity software to more than 10,000 customers enabling them to run mission-critical business applications in hybrid cloud environments. Benefits of the transaction include:
WATERLOO, ON, Oct. 10, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ:OTEX), (TSX:OTEX), announced today that financial results for its first quarter fiscal year 2024 will be released on Thursday, November 2, 2023, at approximately 4:00 p.m. ET. Teleconference CallMark J. Barrenechea, OpenText CEO & CTO and Madhu Ranganathan, OpenText EVP, CFO will host a conference call on November 2, 2023, at 5:00 p.m. ET to discuss the company's financial results. Also joining the call will be Paul Duggan, OpenText EVP, Chief Customer Officer. Date: Thursday, November 2, 2023 Time: 5:00 p.m. ET/2:00 p.m. PT Length: 60 minutes Dial-in: 1-800-319-4610 (toll-free)+1-604-638-5340 (international) Investor
3 - OPEN TEXT CORP (0001002638) (Reporting)
RBC Capital Mkts downgraded Open Text from Outperform to Sector Perform and set a new price target of $33.00 from $45.00 previously
National Bank Financial downgraded Open Text from Outperform to Sector Perform
BMO Capital Markets downgraded Open Text from Outperform to Market Perform and set a new price target of $38.00 from $50.00 previously
Jefferies initiated coverage of Open Text with a rating of Buy and set a new price target of $45.00
Barclays resumed coverage of Open Text with a rating of Equal Weight and set a new price target of $41.00
Citigroup initiated coverage of Open Text with a rating of Neutral and set a new price target of $34.00
CIBC downgraded Open Text from Sector Outperform to Neutral
RBC Capital reiterated coverage of Open Text with a rating of Outperform and set a new price target of $62.00 from $60.00 previously
Barclays reiterated coverage of Open Text with a rating of Equal-Weight and set a new price target of $57.00 from $56.00 previously
Barclays downgraded Open Text from Overweight to Equal-Weight and set a new price target of $56.00
Next-generation cloud, security, AI-integrated innovations unveiled at OpenText World 2024 WATERLOO, ON, Nov. 19, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX) today unveiled Cloud Editions (CE) 24.4 at OpenText World 2024, presenting a suite of transformative advancements in Business Cloud, AI, and Technology to empower the future of AI-driven knowledge work. This release delivers secure, AI-integrated solutions that strengthen data connectivity, streamlines workflows, and enhances human potential—addressing the needs of forward-thinking CIOs and business leaders navigating multi-cloud environments.
New cloud, security, AI – integrated product innovations let the machines do the work to elevate human potential WATERLOO, Ontario, July 16, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX) today announced its latest groundbreaking product innovations with Cloud Editions (CE) 24.3. This release represents a significant leap forward in integrating advanced information management capabilities, trusted cloud solutions, robust security measures, and cutting-edge artificial intelligence (AI) to optimize data performance for simpler, but superior, results. Today's CIOs are now navi
WATERLOO, ON, July 9, 2024 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced the appointment of Annette Rippert to its board of directors. Ms. Rippert is a seasoned executive having served in key senior leadership roles at Accenture, including most recently as its Group Chief Executive – Strategy & Consulting until her retirement from Accenture. "I am pleased to welcome Annette to the OpenText Board," said Tom Jenkins, Chair of the Board of Directors. "She is a highly qualified executive with nearly 30 years' experience at a leading global prof
Company unveils its latest information management solutions, powered by AI and designed to catalyze business transformation through reimagining the way work is approached WATERLOO, ON, April 15, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), the information company, today announced Cloud Editions (CE) 24.2 at its OpenText World Europe conference April 15-18. OpenText's innovations combine trusted information management solutions and data strategies with advanced artificial intelligence (AI) capabilities to make work smarter, safer, and simpler. Titanium X is OpenT
WATERLOO, ON, April 8, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced the strategic appointment of Todd Cione as President of OpenText Worldwide Sales, and announced the promotions of Paul Duggan as President and Chief Customer Officer, and Madhu Ranganathan as President, CFO & Corporate Development. Mr. Cione will lead a charter focused on spearheading the company's global go-to-market strategy and revenue growth, with OpenText's global sales and sales operations functions reporting directly to him. Mr. Duggan will lead a charter focused on custome
WATERLOO, Ontario, March 27, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), the information company, and X12, the ANSI-accredited standards organization, today announced the renewal of their commercial use partner license agreement. This long-standing collaboration underscores OpenText's commitment to and support for X12 standards across its expansive supply chain network. "Electronic data interchange (EDI) is a critical foundation that supports how supply chains and businesses function today," stated Muhi Majzoub, Chief Product Officer and EVP, OpenText. "Working
OpenText's Innovative Approach to Threat Intelligence Empowers Cyber Defenders and Strengthens U.S. Government Cybersecurity Resilience WATERLOO, ON, Feb. 13, 2024 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), 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 hon
WATERLOO, ON, Jan. 8, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX), (TSX:OTEX), today announced the strategic appointment of Denise Miura as SVP & President of OpenText Japan for the Canadian-based information management and AI company. Ms. Miura will lead a charter focused on spearheading the company's growth in the region. Miura has deep experience working in the Japan region for global software leaders in enterprise data and insights management, having ran the Japan operations at both MarkLogic and Medallia. In recent years, OpenText has grown significantly to bring a wide
WATERLOO, ON, Dec. 6, 2023 /PRNewswire/ -- Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced the appointment of Goldy Hyder to its board of directors. Mr. Hyder is President and Chief Executive Officer of the Business Council of Canada, a non-profit, non-partisan organization composed of the chief executives and entrepreneurs of Canada's leading companies, whose members collectively employ approximately two million Canadians in every major industry. "Goldy brings very strong public and international policy perspectives to our Board," said Tom Jenkins, Chair of
Company introduces OpenText Aviator AI capabilities in Cloud Editions 23.4 WATERLOO, ON, Oct. 11, 2023 /PRNewswire/ -- OpenText™ (NASDAQ:OTEX), (TSX:OTEX), the information company, today announced the latest release of its Cloud Editions (CE) 23.4, which includes OpenText Aviator artificial intelligence (AI) capabilities that carry through the company's innovation roadmap. For over a decade, OpenText has been helping organizations manage and secure large complex data sets from IoT and robotics, to natural language processing, to complex systems and generative AI. OpenText Aviator empowers organizations to swiftly act on their data, make sharp decisions and evolve with intelligent tools that
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