Magic Software Enterprises (MGIC) – Investment Analysts’ Weekly Ratings Changes

Magic Software Enterprises (MGIC) – Investment Analysts’ Weekly Ratings Changes



Several analysts have recently updated their ratings and pricing targets Magic software companies (NASDAQ: MGIC):

  • 19/05/2022: Zacks Investment Research analysts upgraded Magic Software Enterprises from a “hold” rating to a “buy” rating. They now have a target price of $ 19.00 per share. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables companies to accelerate the process of creating and deploying applications that can be quickly customized and integrated. Magic’s technology, applications and professional services are available through a global network of Magic subsidiaries, distributors and solution partners (PRESS RELEASE).
  • 12/5/2022 – Magic Software Enterprises was downgraded by StockNews.com analysts from a “strong buy” rating to a “buy” rating.
  • 5/4/2022: Zacks Investment Research analysts upgraded Magic Software Enterprises from a “sell” rating to a “hold” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables companies to accelerate the process of creating and deploying applications that can be quickly customized and integrated. Magic’s technology, applications and professional services are available through a global network of Magic subsidiaries, distributors and solution partners (PRESS RELEASE).
  • 5/3/2022 – Magic Software Enterprises was upgraded by StockNews.com analysts from a “buy” rating to a “strong buy” rating.
  • 4/27/2022: Zacks Investment Research analysts downgraded Magic Software Enterprises from a “hold” rating to a “sell” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables companies to accelerate the process of creating and deploying applications that can be quickly customized and integrated. Magic’s technology, applications and professional services are available through a global network of Magic subsidiaries, distributors and solution partners (PRESS RELEASE).
  • 4/20/2022: Zacks Investment Research analysts downgraded Magic Software Enterprises from a “hold” rating to a “sell” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables companies to accelerate the process of creating and deploying applications that can be quickly customized and integrated. Magic’s technology, applications and professional services are available through a global network of Magic subsidiaries, distributors and solution partners (PRESS RELEASE).
  • 13/04/2022: Zacks Investment Research analysts upgraded Magic Software Enterprises from a “sell” rating to a “hold” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables companies to accelerate the process of creating and deploying applications that can be quickly customized and integrated. Magic’s technology, applications and professional services are available through a global network of Magic subsidiaries, distributors and solution partners (PRESS RELEASE).
  • 04/06/2022 – Zacks Investment Research analysts upgraded Magic Software Enterprises from a “sell” rating to a “maintenance” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables companies to accelerate the process of creating and deploying applications that can be quickly customized and integrated. Magic’s technology, applications and professional services are available through a global network of Magic subsidiaries, distributors and solution partners (PRESS RELEASE).
  • 3/31/2022: StockNews.com analysts are now covering Magic Software Enterprises. They set a “buy” rating on the shares.
  • 3/30/2022: Zacks Investment Research analysts upgraded Magic Software Enterprises from a “sell” rating to a “maintenance” rating. According to Zacks, “Magic Software Enterprises, a member of the Formula Group, develops, markets and supports software development and deployment technology that enables companies to accelerate the process of creating and deploying applications that can be quickly customized and integrated. Magic’s technology, applications and professional services are available through a global network of Magic subsidiaries, distributors and solution partners (PRESS RELEASE).

Shares of Magic Software Enterprises fell $ 0.36 on Tuesday to $ 16.43. The company had a trading volume of 783 shares, compared to its average volume of 25,688. The company has a simple 50-day moving average of $ 17.31 and a simple 200-day moving average of $ 19.24. The company has an equity ratio of 0.08, a current ratio of 2.32 and a fast ratio of 2.32. The company has a market capitalization of $ 806.27 million, a PE ratio of $ 29.34 and a beta of $ 1.28. Magic Software Enterprises Ltd. has a 52-week low of $ 14.87 and a 52-week high of $ 25.49.

Magic Software Enterprises (NASDAQ: MGIC – Get Rating) last released its quarterly results on Thursday, May 12th. The software maker reported $ 0.26 EPS for the quarter, surpassing the consensus estimate of $ 0.24 for $ 0.02. The business had revenue of $ 138.71 million during the quarter, compared to the consensus estimate of $ 128.80 million. Magic Software Enterprises had a net margin of 5.35% and a return on equity of 17.84%. On average, equity research analysts predict that Magic Software Enterprises Ltd. will post 1.08 earnings per share during the current fiscal year.

The firm also recently declared a half-yearly dividend, which was paid on Thursday, April 7th. Shareholders registered on Thursday, March 24, received a dividend of $ 0.216 per share. The download date for this dividend was Wednesday, March 23rd. This represents a dividend yield of 2.3%. Magic Software Enterprises’ dividend payout ratio (DPR) is 76.79%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Phoenix Holdings Ltd. increased its stake in Magic Software Enterprises by 48.9% during the first quarter. Phoenix Holdings Ltd. it now owns 389,248 shares of the software maker’s shares valued at $ 6,784,000 after buying an additional 127,907 shares during the last quarter. Meitav Dash Investments Ltd. increased its stake in Magic Software Enterprises by 11.3% during the fourth quarter. Meitav Dash Investments Ltd. has now 512,494 shares of the software maker’s shares valued at $ 10,718,000 after buying an additional 52,004 shares during the last quarter. Sphera Funds Management LTD. increased its stake in Magic Software Enterprises by 261.2% during the third quarter. Sphera Funds Management LTD. it now owns 57,704 shares of the software maker valued at $ 1,154,000 after buying an additional 41,728 shares during the last quarter. Citigroup Inc. increased its stake in Magic Software Enterprises by 2,046.7% during the third quarter. Citigroup Inc. it now owns 41,861 shares of the software maker’s shares valued at $ 837,000 after buying an additional 39,911 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Magic Software Enterprises by 27.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 181,325 shares of the software maker’s shares valued at $ 3,607,000 after buying an additional 38,980 shares during the last quarter. Institutional investors own 29.56% of the company’s shares.

Magic Software Enterprises Ltd. offers patented application development, business process integration, state-of-the-art software solutions, and information technology (IT) outsourcing software services in Israel and internationally. The company’s software services segment develops, markets, sells, and supports application platforms, software applications, and business integration solutions and related processes and services.

Read more



Receive daily news and scores from Magic Software Enterprises Ltd – Enter your email address below to receive a concise daily summary of the latest news and ratings from analysts at Magic Software Enterprises Ltd and companies related to the FREE Daily Marketplace newsletter by email.



Source link

Related post

Open House: What steps can be taken to check the rising cases of suicides among youths? : The Tribune India

Open House: What steps can be taken to check…

Education institution should set up helplines To begin with, it should be made clear that stress is a physical reaction to…
Here are the top 25 start-ups to work for in India

Here are the top 25 start-ups to work for…

It’s also great to see young professionals embracing India’s startup ecosystem, with 56% of all hires at the top 25 startups…
Micro:bit launches new Python Editor to help more children learn text-based coding languages

Micro:bit launches new Python Editor to help more children learn…

Micro:bit Educational Foundation, the educational nonprofit on a mission to improve children’s digital skills, today announced that it’s even easier for…

Leave a Reply

Your email address will not be published.