Economy

Magic Software Enterprises Ltd. (MGIC) Given Consensus Recommendation of "Buy" by Analysts

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At the moment 3 analysts are watching Magic Software Enterprises Ltd. (NASDAQ:MGIC), 1 rate it "Buy", 2 "Outperform", 0 "Underperform", 0 "Sell", while 0 "Hold". The company's revenue was up 20.6% on a year-over-year basis. The company presently has an average rating of "Buy" and an average target price of $9.69.

Magic Software Entpr's P/E ratio is 33.29 and the market value is 387.93M. Zacks Investment Research upgraded shares of Magic Software Enterprises from a "sell" rating to a "hold" rating in a report on Wednesday, July 19th. BidaskClub lowered shares of Magic Software Enterprises from a "sell" rating to a "strong sell" rating in a report on Friday, August 4th. On August 10 analysts at HC Wainwright updated coverage of MGIC with a rating of "Buy" and a price target of $10.00.

ILLEGAL ACTIVITY NOTICE: "Magic Software Enterprises Ltd. (MGIC) Posts Earnings Results, Misses Expectations By $0.03 EPS" was posted by TrueBlueTribune and is owned by of TrueBlueTribune.

Shares of Magic Software Enterprises (NASDAQ:MGIC) opened at 7.00 on Thursday. GHP Investment Advisors Inc. now owns 17,990 shares of the company's stock worth $128,000 after buying an additional 3,560 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Magic Software Enterprises by 12.5% during the third quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Magic Software Enterprises by 39.1% during the second quarter. Eagle Global Advisors LLC raised its holdings in Magic Software Enterprises by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 74,892 shares of the software maker's stock valued at $652,000 after buying an additional 6,526 shares in the last quarter.

In the market the company is trading up by 1.13% percent from yesterday's close. Hedge funds and other institutional investors own 7.82% of the company's stock. The IT professional services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, and communications services and solutions. The Company is a vendor of information technology (IT) outsourcing services.



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