RBC Capital Keeps Their Buy Rating on Open Text (OTEX)

RBC Capital analyst Paul Treiber maintained a Buy rating on Open Text (OTEX – Research Report) today and set a price target of $45.00. The company’s shares closed last Friday at $30.25.

According to TipRanks, Treiber is a 5-star analyst with an average return of 11.9% and a 63.03% success rate. Treiber covers the Technology sector, focusing on stocks such as Shopify, CGI Group, and Open Text.

In addition to RBC Capital, Open Text also received a Buy from National Bank’s Richard Tse in a report issued on May 3. However, on the same day, BMO Capital downgraded Open Text (NASDAQ: OTEX) to a Hold.

Based on Open Text’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.53 billion and a net profit of $37.68 million. In comparison, last year the company earned a revenue of $80.09 million and had a GAAP net loss of $542.02 million

Based on the recent corporate insider activity of 74 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 (OTEX) Company Description:

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.