Open Text (OTEX) Stock Forecast & Price Target

$31.38

-0.42 (-1.32%)

(As of 09/6/2024 ET)

Open Text - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold
Based on 12 Analyst Ratings

Based on 12 Wall Street analysts who have issued ratings for Open Text in the last 12 months, the stock has a consensus rating of "Hold." Out of the 12 analysts, 8 have given a hold rating, and 4 have given a buy rating for OTEX.

Consensus Price Target

$38.60
23.01% Upside

High Forecast	$53.00
Average Forecast	$38.60
Low Forecast	$32.00

According to the 12 analysts' twelve-month price targets for Open Text, the average price target is $38.60. The highest price target for OTEX is $53.00, while the lowest price target for OTEX is $32.00. The average price target represents a forecasted upside of 23.01% from the current price of $31.38.

Type	Current Forecast 9/8/23 to 9/7/24	1 Month Ago 8/9/23 to 8/8/24	3 Months Ago 6/10/23 to 6/9/24	1 Year Ago 9/8/22 to 9/8/23
Consensus Rating	Hold	Hold	Hold	Moderate Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	4 Buy rating(s)	4 Buy rating(s)	5 Buy rating(s)	3 Buy rating(s)
Hold	8 Hold rating(s)	8 Hold rating(s)	6 Hold rating(s)	3 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$38.60	$38.60	$42.25	$46.67
Forecasted Upside	23.01% Upside	24.15% Upside	30.94% Upside	27.99% Upside

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OTEX Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

OTEX Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Open Text Stock vs. The Competition

Type	Open Text	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.33	2.64	2.51
Consensus Rating	Hold	Moderate Buy	Moderate Buy
Predicted Upside	23.01% Upside	204.80% Upside	11.36% Upside
News Sentiment Rating	Positive News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
8/5/2024	Barclays 3 of 5 stars		Lower Target	Equal Weight ➝ Equal Weight	$38.00 ➝ $36.00	+26.14%
8/2/2024	Jefferies Financial Group 2 of 5 stars		Lower Target	Buy	$42.00 ➝ $35.00	+23.59%
8/2/2024	BMO Capital Markets 4 of 5 stars		Lower Target	Market Perform	$38.00 ➝ $33.00	+16.53%
8/2/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Sector Perform	$38.00	+34.18%
8/2/2024	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Tse Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform ➝ Sector Perform
7/19/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$36.00 ➝ $33.00	+7.46%
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6/26/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$37.00 ➝ $32.00	+7.60%
5/3/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Sector Outperform ➝ Sector Perform
5/3/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$55.00 ➝ $48.00	+59.95%
5/3/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy	$54.00 ➝ $40.00	+33.29%
2/2/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$53.00	+25.41%
10/16/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral	$44.00 ➝ $38.00	+9.57%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 09:49 PM ET.

OTEX Forecast - Frequently Asked Questions

What is Open Text's forecast for 2024?: According to the research reports of 12 Wall Street equities research analysts, the average twelve-month stock price forecast for Open Text is $38.60, with a high forecast of $53.00 and a low forecast of $32.00.
Should I buy or sell Open Text stock right now?: 12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Open Text in the last year. There are currently 8 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" OTEX shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in OTEX, but not buy additional shares or sell existing shares.
Does Open Text's stock price have much upside?: According to analysts, Open Text's stock has a predicted upside of 24.15% based on their 12-month stock forecasts.
Has Open Text been downgraded by Wall Street analysts recently?: Over the previous 90 days, Open Text's stock had 2 downgrades by analysts.
What analysts cover Open Text?: Open Text has been rated by research analysts at Barclays, BMO Capital Markets, CIBC, Citigroup, Jefferies Financial Group, National Bank Financial, and National Bankshares in the past 90 days.
Do Wall Street analysts like Open Text more than its competitors?: Analysts like Open Text less than other "computer and technology" companies. The consensus rating for Open Text is Hold while the average consensus rating for "computer and technology" companies is Moderate Buy. Learn more on how OTEX compares to other companies.