Open Text (OTEX) Stock

Open Text Corporation (NASDAQ:OTEX) will be participating in the Barclays 22nd Annual Global Technology Conference on December 12, 2024, at 4:20 PM ET. The company representatives include Greg Secord, Vice President of Investor Relations, and Madhu Ranganathan, President and CFO. Raimo Lenschow from Barclays welcomes everyone to the session and mentions that Madhu will join shortly as she is currently caught in traffic.

Open Text seems very affordable due to its low non-GAAP P/E ratio and promising growth potential. However, I think the shares may not be as undervalued as they initially appear. Still, there is value in Open Text if you consider a few important factors.

Investors should closely monitor Open Text (OTEX) stock due to recent changes in the options market.

At OpenText World 2024, OpenText™ introduced Cloud Editions (CE) 24.4, showcasing new advancements in Business Cloud, AI, and Technology. These innovations offer secure, AI-integrated solutions that improve data connectivity, simplify workflows, and boost human capabilities, catering to the demands of progressive CIOs and business leaders in multi-cloud settings.

WATERLOO, ON, Nov. 18, 2024 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX, TSX: OTEX) has announced that its Partner Network can now sell the full range of OpenText's information management solutions. This includes offerings in Content Services, Experience Management, Security, IT Operations Management, and Developer tools, as well as enhancements like cloud, artificial intelligence, automation, and analytics. Sandy Ono, EVP and Chief Marketing Officer at OpenText, stated that this is a significant achievement for their Partner Network after acquiring Micro Focus.

Innovative experts will meet in Las Vegas to discuss a future shaped by AI knowledge workers, cloud technology, and advanced security. OpenText™ has revealed its lineup of keynote and guest speakers for OpenText World 2024, a major information management conference happening both in-person and online at the Venetian Hotel Resort from November 18-21, 2024. This year's event will focus on how AI can transform business operations and the role of knowledge workers in this change.

Open Text (OTEX) reported quarterly earnings of $0.93 per share, which is higher than the Zacks Consensus Estimate of $0.81 per share. This is a decrease compared to earnings of $1.01 per share from the same period last year.

In the first quarter of fiscal 2025, the company reported total revenues of $1.27 billion, with a strong adjusted EBITDA margin of 35%. They achieved 15 straight quarters of growth in organic cloud revenue, and annual recurring revenues made up 83% of total revenues. CEO Mark J. Barrenechea highlighted these results following the AMC divestiture.

Open Text Corporation (NASDAQ:OTEX) will hold its Q1 2025 Earnings Conference Call on October 31, 2024, at 9:00 AM ET. The call will feature company representatives including Greg Secord, Mark Barrenechea, and Madhu Ranganathan. Various analysts from firms like Citi, Jefferies, and Barclays will also participate in the call.