Is Buying Open Text Corp Here a Winning Strategy?


The stock of Open Text Corp (TSE:OTC) hit a new 52-week high and has $135.02 target or 59.00% above today’s $84.92 share price. The 9 months bullish chart indicates low risk for the $11.24B company. The 1-year high was reported on Sep, 13 by If the $135.02 price target is reached, the company will be worth $6.63B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 230,684 shares traded hands or 15.77% up from the average. Open Text Corp (TSE:OTC) has risen 35.30% since February 5, 2016 and is uptrending. It has outperformed by 18.81% the S&P500.

Out of 2 analysts covering OpenText Corporation (TSE:OTC), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $78.50 is the highest target while $54 is the lowest. The $68.50 average target is -19.34% below today’s ($84.92) stock price. OpenText Corporation has been the topic of 6 analyst reports since October 22, 2015 according to StockzIntelligence Inc.

Open Text Corp is a Canada-based independent company. The company has a market cap of $11.24 billion. The Firm provides various software services and products that assist organizations in finding, utilizing, and sharing business information from any device. It has a 27.93 P/E ratio. The Company’s enterprise information management offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Information Exchange (iX), Discovery and Analytics.

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