BMO Capital Markets Reiterates “C$42.00” Price Target for Open Text (OTEX)
Open Text (TSE:OTEX) (NASDAQ:OTEX) received a C$42.00 target price from equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Thursday. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential downside of 11.54% from the company’s current price.
Separately, Macquarie reduced their price objective on Open Text from C$43.00 to C$40.00 in a research note on Thursday, November 23rd. Six research analysts have rated the stock with a buy rating, Open Text presently has an average rating of “Buy” and a consensus target price of C$44.00.
Shares of Open Text (TSE OTEX) traded up C$5.36 during trading hours on Thursday, hitting C$47.48. The stock had a trading volume of 2,859,822 shares, compared to its average volume of 658,343. Open Text has a 1 year low of C$38.65 and a 1 year high of C$49.49. The stock has a market capitalization of $11,200.00, a PE ratio of 66.87 and a beta of 0.07.
Open Text Company Profile
Open Text Corporation provides a suite of software products and services that assist organizations in finding, utilizing, and sharing business information from various devices. The company offers content solutions that provide content and records management, archiving, and email management and capture solutions, as well as Core, a software as a service based multi-tenant cloud solution; business process management for analyzing, automating, monitoring, and optimizing structured business processes; and customer experience management products, which offer Web content management, digital asset management, customer communications management, social software, and portal.
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