Open Text (TSE:OTEX) (NASDAQ:OTEX) has been assigned a C$42.00 price objective by research analysts at BMO Capital Markets in a research note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential downside of 11.54% from the company’s previous close.
Separately, Macquarie cut their target price on Open Text from C$43.00 to C$40.00 in a research report on Thursday, November 23rd. Six equities research analysts have rated the stock with a buy rating, The company currently 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 mid-day trading on Thursday, hitting C$47.48. The stock had a trading volume of 2,860,000 shares, compared to its average volume of 926,923. Open Text has a 12 month low of C$38.65 and a 12 month high of C$49.49. The firm has a market capitalization of $12,620.00, 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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