RBC Capital Sticks to Their Hold Rating for Open Text (OTEX)
In a report released yesterday, Paul Treiber from RBC Capital maintained a Hold rating on Open Text, with a price target of $33.00.
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Treiber covers the Technology sector, focusing on stocks such as Shopify, Constellation Software, and Kinaxis Inc. According to TipRanks, Treiber has an average return of 12.5% and a 60.61% success rate on recommended stocks.
In addition to RBC Capital, Open Text also received a Hold from TipRanks – DeepSeek’s DeepSeek Software – Application in a report issued yesterday. However, on the same day, TipRanks – OpenAI upgraded Open Text (NASDAQ: OTEX) to a Buy.
Based on Open Text’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$1.27 billion and a net profit of C$144.99 million. In comparison, last year the company earned a revenue of C$1.27 billion and had a net profit of C$84.37 million
Based on the recent corporate insider activity of 53 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.
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