Open Text Corp Can’t Burn Your Long Portfolio. Just Reaches All-Time High


The stock of Open Text Corp (TSE:OTC) reached all time high today, Sep, 13 and still has $117.19 target or 38.00% above today’s $84.92 share price. This indicates more upside for the $11.24B company. This technical setup was reported by If the $117.19 PT is reached, the company will be worth $4.27B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 231,702 shares traded hands or 16.28% 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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