Published On: Wed, Oct 19th, 2016

Upgrades And Downgrades For Magic Software Enterprises Ltd. (NASDAQ:MGIC)


Recently stock market analysts have updated their consensus ratings on shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC).

Most recent broker ratings

02/23/2016 – Magic Software Enterprises Ltd. had its “overweight” rating reiterated by analysts at Barclays. They now have a USD 8.5 price target on the stock.

12/03/2015 – Magic Software Enterprises Ltd. had its “buy” rating reiterated by analysts at H.C. Wainwright. They now have a USD 7 price target on the stock.

05/01/2015 – Magic Software Enterprises Ltd. had its “hold” rating reiterated by analysts at Zacks.

05/08/2014 – William Blair began new coverage on Magic Software Enterprises Ltd. giving the company a “outperform” rating.

04/09/2014 – Maxim Group began new coverage on Magic Software Enterprises Ltd. giving the company a “hold” rating. They now have a USD 9.5 price target on the stock.

Magic Software Enterprises Ltd. has a 50 day moving average of 7.24 and a 200 day moving average of 7.03. The stock’s market capitalization is 319.96M, it has a 52-week low of 5.13 and a 52-week high of 7.89.

The share price of the company (NASDAQ:MGIC) was up +2.84% during the last trading session, with a high of 7.35 and the volume of Magic Software Enterprises Ltd. shares traded was 7082.

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. It operates through two segments: software solutions and IT professional services. The software services segment includes software technology and complementary services. 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. Its product portfolio includes Magic xpa Application Platform, AppBuilder Application Platform and Magic xpi Integration Platform. Its vertical software packages include Leap, Hermes Solution, HR Pulse and MBS Solution.