Open Text (NASDAQ:OTEX) Given a $45.00 Price Target by National Bankshares Analysts

Key Points

• Open Text (NASDAQ:OTEX) has received a new price target of $45.00 from National Bankshares, indicating a potential upside of 15.11% from its current stock price.
• The consensus rating on Open Text's stock is currently a "Hold," with three analysts recommending a "Buy," nine advising a "Hold," and one suggesting a "Sell."
• Open Text reported a quarterly EPS of $0.97, exceeding the consensus estimate of $0.86, despite a year-over-year revenue decline of 3.8%.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC received a $45.00 price objective from equities research analysts at National Bankshares in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the software maker's stock. National Bankshares' price target points to a potential upside of 15.11% from the stock's current price.

Several other research firms also recently commented on OTEX. Jefferies Financial Group downgraded shares of Open Text from a "buy" rating to a "hold" rating and set a $33.00 price target on the stock. in a research note on Tuesday, August 12th. Barclays upped their price target on shares of Open Text from $33.00 to $39.00 and gave the company an "equal weight" rating in a research note on Tuesday. Royal Bank Of Canada upped their price objective on shares of Open Text from $30.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Tuesday, September 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Open Text in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Open Text from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $38.08.

Open Text Stock Performance

Shares of OTEX stock traded down $0.08 on Thursday, hitting $39.09. The company's stock had a trading volume of 352,128 shares, compared to its average volume of 1,295,005. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.80 and a current ratio of 0.80. The stock's 50 day moving average is $35.85 and its 200-day moving average is $30.68. Open Text has a fifty-two week low of $22.79 and a fifty-two week high of $39.90. The company has a market capitalization of $9.89 billion, a PE ratio of 23.69 and a beta of 1.17.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last released its quarterly earnings results on Thursday, August 7th. The software maker reported $0.97 EPS for the quarter, beating the consensus estimate of $0.86 by $0.11. Open Text had a net margin of 8.43% and a return on equity of 22.52%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company posted $0.98 earnings per share. Open Text's revenue was down 3.8% compared to the same quarter last year. Equities research analysts expect that Open Text will post 3.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of Open Text in the first quarter valued at approximately $323,000. Bessemer Group Inc. increased its stake in shares of Open Text by 2,109.1% in the first quarter. Bessemer Group Inc. now owns 54,675 shares of the software maker's stock valued at $1,381,000 after buying an additional 52,200 shares during the period. Value Partners Investments Inc. increased its stake in shares of Open Text by 1,162.1% in the first quarter. Value Partners Investments Inc. now owns 2,333,539 shares of the software maker's stock valued at $58,955,000 after buying an additional 2,148,639 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Open Text by 12.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 187,565 shares of the software maker's stock valued at $4,735,000 after buying an additional 21,089 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in shares of Open Text by 10.3% in the first quarter. Vontobel Holding Ltd. now owns 65,450 shares of the software maker's stock valued at $1,652,000 after buying an additional 6,099 shares during the period. Institutional investors own 70.37% of the company's stock.

Open Text Company Profile

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.

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