OpenText launches new learning subscription for partners

WATERLOO, ON - OpenText™ (NASDAQ: OTEX), (TSX: OTEX), a global leader in information management software and services, today introduced a new Partner Enterprise Learning Subscription at OpenText World 2024. The program aims to address skill gaps among its partners and provide customers with assurance regarding the expertise of their chosen partners.

The subscription offers partners unlimited access to self-paced training, hands-on labs, and certification vouchers, which are now mandatory for practitioners within partner organizations who manage product installation, customization, administration, or other technical services. The learning subscription also features training analytics to help partners monitor content usage and skill development.

Joel Kremke, SVP Channel and Alliances at OpenText, emphasized the importance of high training and certification levels, stating they enable partners to stand out in competitive situations and assure customers of their capability to deliver successful project outcomes.

OpenText also announced the upcoming relaunch of its Partner Directory, which will showcase the certifications of each partner organization, thereby aiding customers in selecting qualified partners and helping partners to differentiate themselves in the marketplace.

The new learning program is part of OpenText's investment in its Partner Network, designed to make it simpler for partners to grow and maintain their OpenText practices. It provides partners with a cost-effective training solution to address any skills gaps, visibility into capacity constraints, and insights into the skills available across their geographically dispersed teams.

Partners interested in the new subscription can review learning paths and available product certifications as a starting point or contact OpenText for more details.

Based on a press release statement, OpenText, listed on NASDAQ and TSX, helps organizations solve complex global challenges with a comprehensive suite of Business Clouds, Business AI, and Business Technology. For more information, please visit www.opentext.com.

In other recent news, Open Text (NASDAQ:OTEX) Corporation witnessed several developments. Scotiabank (TSX:BNS) reduced its price target for Open Text from $40.00 to $35.00, maintaining a Sector Perform rating due to a slower than anticipated cloud growth. The bank now expects Open Text's fiscal year 2025 revenues to be at the lower end of the forecast, predicting a slight year-over-year decline. However, the first quarter saw profits exceed expectations with robust adjusted EBITDA margins at 35%.

RBC Capital also revised its outlook on Open Text, downgrading the stock to Sector Perform from Outperform and reducing its price target from $45.00 to $33.00. This decision was driven by market skepticism towards the company's growth performance. Similarly, Citi lowered its price target for Open Text to $33 from $34 while maintaining a neutral rating, following mixed outcomes in the company's first-quarter results.

Despite these adjustments, Open Text reported strong Q1 results, with a 10% increase in enterprise cloud bookings and revenues of $1.27 billion. The company also announced plans to continue share buybacks, having repurchased 7.72 million shares. Open Text maintains a positive outlook for the second half of the fiscal year, backed by upcoming product releases, investments, and leadership changes.

InvestingPro Insights

OpenText's (NASDAQ: OTEX) new Partner Enterprise Learning Subscription program aligns well with its strong market position and financial performance. According to InvestingPro data, the company boasts a market capitalization of $7.42 billion and impressive gross profit margins of 76.56% for the last twelve months as of Q1 2025. This financial strength supports OpenText's ability to invest in partner development and maintain its leadership in information management software.

The company's focus on enhancing partner capabilities through this new program could help address some recent challenges. InvestingPro Tips reveal that OpenText's stock has fared poorly over the last month, with a 15.28% price decline. However, this dip might present an opportunity for investors, as the stock is currently trading near its 52-week low and at a low P/E ratio relative to near-term earnings growth.

OpenText's commitment to partner education and certification aligns with its long-term stability. An InvestingPro Tip highlights that the company has raised its dividend for 12 consecutive years, demonstrating a consistent return to shareholders. This track record, combined with the current dividend yield of 3.64%, may appeal to income-focused investors.

For those interested in a deeper analysis, InvestingPro offers 13 additional tips for OpenText, providing a comprehensive view of the company's financial health and market position.

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