According to The Fly, analysts seem to be optimistic about Open Text (TSX: OTEX) lately, with another positive rating update this time from BMO Capital. The company received a Buy today from analyst Thanos Moschopoulos.
According to TipRanks.com, Moschopoulos is ranked #1779 out of 4895 analysts.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Open Text with a C$46 average price target, which is a 5.5% upside from current levels. In a report released yesterday, MUFG Securities Americas Inc also maintained a Buy rating on the stock.
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Based on Open Text’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$79.69 million. In comparison, last year the company had a net profit of C$45.87 million.
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 Thursday at C$43.62.
