In a report released yesterday, Paul Steep from Scotiabank reiterated a Buy rating on Open Text (NASDAQ: OTEX), with a price target of $46. The company’s shares closed yesterday at $39.27, close to its 52-week high of $40.31.
Steep has an average return of 19.8% when recommending Open Text.
According to TipRanks.com, Steep is ranked #783 out of 4853 analysts.
Open Text has an analyst consensus of Strong Buy, with a price target consensus of $45, which is a 14.6% upside from current levels. In a report issued on July 24, Industrial Alliance Securities also maintained a Buy rating on the stock with a $40 price target.
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Open Text’s market cap is currently $10.5B and has a P/E ratio of 46.2. The company has a Price to Book ratio of 2.84.
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Open Text Corp. is an independent software company that provides software products and services that assist organizations in finding, utilizing, and sharing business information from any device. Its products and solutions include enterprise content management, digital asset management, cloud, business process management, content management and legal.
