Open Text (NASDAQ:OTEX) PT Set at $48.00 by Raymond James

Open Text (NASDAQ:OTEX) (TSE:OTC) received a $48.00 price objective from stock analysts at Raymond James in a report issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the software maker’s stock. Raymond James’ price objective suggests a potential upside of 12.33% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. BidaskClub upgraded shares of ZIX from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. Finally, Benchmark reiterated a “buy” rating and set a $48.00 price target (up previously from $42.00) on shares of Open Text in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $46.09.

Shares of OTEX stock opened at $42.73 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $11.53 billion, a PE ratio of 41.89 and a beta of 0.48. The company has a 50 day simple moving average of $41.45. Open Text has a fifty-two week low of $30.99 and a fifty-two week high of $43.14.



Open Text (NASDAQ:OTEX) (TSE:OTC) last posted its quarterly earnings results on Wednesday, May 1st. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.08 by $0.19. Open Text had a net margin of 9.57% and a return on equity of 7.31%. The company had revenue of $719.10 million during the quarter, compared to analysts’ expectations of $710.47 million. During the same quarter in the previous year, the business posted $0.54 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. Equities analysts forecast that Open Text will post 1.16 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of OTEX. Meridian Wealth Management LLC acquired a new position in shares of Open Text in the 1st quarter valued at $25,000. Zions Bancorporation N.A. acquired a new position in shares of Open Text in the 1st quarter valued at $27,000. Icon Wealth Partners LLC acquired a new position in shares of Open Text in the 1st quarter valued at $46,000. Shine Investment Advisory Services Inc. boosted its holdings in shares of Open Text by 18.3% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 2,622 shares of the software maker’s stock valued at $101,000 after buying an additional 405 shares in the last quarter. Finally, Bremer Bank National Association acquired a new position in shares of Open Text in the 1st quarter valued at $109,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Open Text Company Profile

Open Text Corporation provides a suite of software products and services. The company offers content services; digital process automation, which enables organizations to transform into digital and data-driven businesses through automation; and discovery suite that provides forensics and unstructured data analytics for searching, collecting, and investigating enterprise data to manage legal obligations and risk.

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Analyst Recommendations for Open Text (NASDAQ:OTEX)

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