RBC Capital Maintains Outperform Rating for Open Text: Here's What You Need To Know

RBC Capital has decided to maintain its Outperform rating of Open Text OTEX and raise its price target from $50.00 to $53.00.

Shares of Open Text are trading up 0.0% over the last 24 hours, at $40.67 per share.

A move to $53.00 would account for a 30.32% increase from the current share price.

About Open Text

Open Text Corp grew out of a technology project involving the Oxford English Dictionary at Canada's University of Waterloo in the mid-1980s. Its software allows clients to archive, aggregate, retrieve, and search unstructured information (such as documents, e-mail, and presentations). The OpenText Information Management platform and services provide secure and scalable solutions for global enterprises, SMBs, governments, and consumers around the world. It also accelerates transformations with intelligent tools and services. The company is based in Ontario, Canada.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.