Citigroup Maintains Their Hold Rating on Open Text (OTEX)


In a report released today, Daniel Jester from Citigroup maintained a Hold rating on Open Text (OTEX), with a price target of $47.00. The company’s shares closed last Friday at $45.81, close to its 52-week high of $47.85.

According to TipRanks.com, Jester is a 4-star analyst with an average return of 21.5% and a 70.0% success rate. Jester covers the Technology sector, focusing on stocks such as Coupa Software, Paylocity, and Intuit.

The word on The Street in general, suggests a Hold analyst consensus rating for Open Text with a $47.23 average price target, implying a -0.6% downside from current levels. In a report issued on August 5, PI Financial also maintained a Hold rating on the stock with a C$58.00 price target.

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The company has a one-year high of $47.85 and a one-year low of $29.12. Currently, Open Text has an average volume of 515.4K.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OTEX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Open Text Corp. engages in the design, development, marketing and sales of enterprise information management software and solutions. It includes customer experience management (CEM), digital process automation, business network, and enterprise content management, discovery, security, and artificial intelligence (AI) and analytics solutions. It also offers consulting, managed, and learning services. The company was founded on June 26, 1991 and is headquartered in Waterloo, Canada.

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