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Highlights

  • National Bankshares lifted rating from "sector perform" to "outperform" with USD 45.00 target.
  • Mixed analyst outlook includes Buy, Hold, and one Sell rating on shares.
  • Consensus target price stands at USD 35.18, reflecting moderate upside expectations.

Open Text Corporation (NASDAQ:OTEX) received an upgrade from National Bankshares, which raised its rating from "sector perform" to "outperform" in a report published Monday, according to BayStreet.CA. The brokerage lifted its price target from USD 34.00 to USD 45.00, suggesting a potential upside of 19.41% from the company’s previous closing level.

Several other brokerages also updated their assessments of the company in recent weeks. Wall Street Zen raised its view from "hold" to "buy" on August 9. National Bank Financial reiterated its new "outperform" stance with the USD 45.00 target on the same day. Barclays reaffirmed a "positive" rating on August 8. Conversely, Jefferies Financial Group downgraded shares from "buy" to "hold," setting a USD 33.00 price objective on August 12. Royal Bank of Canada raised its target from USD 30.00 to USD 35.00, assigning a "sector perform" rating in early September.

According to MarketBeat.com, four analysts currently assign a Buy rating, six rate the stock as Hold, and one analyst has issued a Sell rating. The consensus recommendation is "Hold," with an average price target of USD 35.18.

On the earnings front, Open Text reported results on August 7. The company posted earnings per share of USD 0.97, surpassing analyst consensus estimates of USD 0.86 by USD 0.11. Net margin for the quarter was 8.43%, while return on equity reached 22.52%. Quarterly revenue came in at USD 1.32 billion, slightly above analyst expectations of USD 1.30 billion but reflecting a 3.8% decline compared to the same quarter last year, when the company reported EPS of USD 0.98. Research analysts project full-year earnings per share of approximately USD 3.45.

Open Text operates as a provider of information management software and solutions. Its business includes enterprise content services, such as document collaboration, intelligent capture, records management, and e-signatures. The company also manages a cloud-based experience platform offering digital asset management, web content management, customer analytics, e-discovery, secure messaging, omnichannel communications, and AI-driven insights.