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RBC Capital Thinks Open Text’s Stock is Going to Recover

RBC Capital analyst Paul Treiber maintained a Buy rating on Open Text (OTEXResearch Report) on March 1 and set a price target of $62.00. The company’s shares closed last Thursday at $43.19, close to its 52-week low of $40.96.

According to TipRanks.com, Treiber is a 5-star analyst with an average return of 13.9% and a 63.6% success rate. Treiber covers the Technology sector, focusing on stocks such as The Descartes Systems Group, Enghouse Systems, and Sierra Wireless.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Open Text with a $55.12 average price target.

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Open Text’s market cap is currently $11.77B and has a P/E ratio of 24.02.

Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is neutral on the stock.

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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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