RBC Capital Sticks to Their Hold Rating for Open Text (OTEX)
RBC Capital analyst Paul Treiber maintained a Hold rating on Open Text today and set a price target of $30.00.
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According to TipRanks, Treiber is a 5-star analyst with an average return of 12.5% and a 60.61% success rate. Treiber covers the Technology sector, focusing on stocks such as Constellation Software, Shopify, and BlackBerry.
In addition to RBC Capital, Open Text also received a Hold from Barclays’s Raimo Lenschow in a report issued today. However, on February 4, TipRanks – OpenAI reiterated a Buy rating on Open Text (NASDAQ: OTEX).
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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