Magic Software Enterprises (MGIC) Getting Somewhat Positive News Coverage, Report Finds

Media headlines about Magic Software Enterprises (NASDAQ:MGIC) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Magic Software Enterprises earned a media sentiment score of 0.18 on Accern’s scale. Accern also gave news articles about the software maker an impact score of 45.3368363974761 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

A number of brokerages recently commented on MGIC. HC Wainwright set a $10.00 target price on shares of Magic Software Enterprises and gave the stock a “buy” rating in a research report on Monday, November 20th. ValuEngine upgraded shares of Magic Software Enterprises from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Zacks Investment Research upgraded shares of Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Tuesday, September 5th. Finally, Barclays reiterated a “buy” rating and issued a $10.50 target price on shares of Magic Software Enterprises in a research report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Magic Software Enterprises has a consensus rating of “Hold” and an average price target of $9.81.

Magic Software Enterprises (NASDAQ MGIC) opened at $8.45 on Friday. The company has a market cap of $364.00, a price-to-earnings ratio of 32.50 and a beta of 0.65. Magic Software Enterprises has a 52-week low of $6.65 and a 52-week high of $9.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.45 and a quick ratio of 3.45.

Magic Software Enterprises (NASDAQ:MGIC) last issued its earnings results on Tuesday, November 14th. The software maker reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The business had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $62.65 million. Magic Software Enterprises had a return on equity of 10.37% and a net margin of 4.77%. Magic Software Enterprises’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS. analysts forecast that Magic Software Enterprises will post 0.55 earnings per share for the current year.

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Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.

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