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Open Text (NASDAQ:OTEX) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, StockRatingsNetwork.com reports. The firm currently has a $95.00 price objective on the stock. Zacks‘ target price indicates a potential upside of 5.29% from the company’s current price.

Open Text (NASDAQ:OTEX) traded up 1.08% on Tuesday, hitting $91.20. 149,906 shares of the company’s stock traded hands. Open Text has a one year low of $53.53 and a one year high of $94.34. The stock has a 50-day moving average of $89.95 and a 200-day moving average of $77.69. The company has a market cap of $5.333 billion and a price-to-earnings ratio of 33.44.

OTEX has been the subject of a number of other recent research reports. Analysts at Pi Financial downgraded shares of Open Text from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, December 12th. Separately, analysts at Susquehanna upgraded shares of Open Text from a “negative” rating to a “neutral” rating in a research note to investors on Thursday, December 5th. They now have a $80.00 price target on the stock, up previously from $55.00. Finally, analysts at Benchmark Co. raised their price target on shares of Open Text from $85.00 to $95.00 in a research note to investors on Friday, November 22nd. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $81.46.

Open Text Corporation (NASDAQ:OTEX), is engaged in providing a suite of information management software products.

To view Zacks’ full report, visit www.zacks.com

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