News stories about Magic Software Enterprises (NASDAQ:MGIC) have trended positive recently, according to Accern. The research firm scores the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Magic Software Enterprises earned a news sentiment score of 0.30 on Accern’s scale. Accern also gave media headlines about the software maker an impact score of 45.9929171741895 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Barclays reissued a “buy” rating and set a $10.50 price objective on shares of Magic Software Enterprises in a report on Thursday, November 16th. Finally, HC Wainwright set a $10.00 price objective on shares of Magic Software Enterprises and gave the company a “buy” rating in a report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Magic Software Enterprises presently has an average rating of “Hold” and a consensus target price of $9.81.
Shares of Magic Software Enterprises (MGIC) opened at $8.95 on Friday. Magic Software Enterprises has a twelve month low of $6.75 and a twelve month high of $9.50. The company has a market cap of $387.03, a P/E ratio of 33.15 and a beta of 0.65. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.16.
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About Magic Software Enterprises
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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