In a new note to investors on February 1, an analyst has provided a rating update for Open Text (OTEX). On February 1, analyst Phillip Huang gave a Buy rating to OTEX and set a C$64 price target.
According to TipRanks.com, Huang is a 5-star analyst with an average return of 10.0% and a 77.1% success rate. Huang covers the Technology sector, focusing on stocks such as Rogers Communication, CGI Group, and Open Text.
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Open Text has an analyst consensus of Strong Buy, with a price target consensus of C$56.50, which is a 16.1% upside from current levels. In a report issued on January 25, Raymond James also maintained a Buy rating on the stock.
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Open Text’s market cap is currently C$13.01B and has a P/E ratio of 37.1. The company has a Price to Book ratio of 2.70.
Open Text Corp. enagges in the design, development, marketing, and sales of enterprise information management software and solutions. Its services include consulting services; managed services; learning services; cloud managed services; and optimized service programs. The company was founded on June 26, 1991 and is headquartered in Waterloo, Canada.
The company’s shares closed on Friday at C$48.68.
