Currently, Magic Software Enterprises Ltd [MGIC] is trading at $11.95, up 6.32%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The MGIC shares have gain 9.43% over the last week, with a monthly amount glided 6.70%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Magic Software Enterprises Ltd [NASDAQ: MGIC] stock has seen the most recent analyst activity on August 17, 2020, when H.C. Wainwright upgraded its rating to a Buy and also boosted its price target to $17 from $8.50. Previously, H.C. Wainwright downgraded its rating to Neutral on March 11, 2020, and kept the price target unchanged to $8.50. On May 17, 2017, Rodman & Renshaw reiterated its Buy rating and revised its price target to $10 on the stock. Rodman & Renshaw reiterated its Buy rating and increased its price target to $9 on March 06, 2017. Barclays reiterated its recommendation of a Overweight and raised its price target to $8.50 on February 23, 2016. Barclays upgraded its rating to Overweight for this stock on November 12, 2015, but kept the price target unchanged to $8. In a note dated January 12, 2015, Barclays reiterated an Equal Weight rating on this stock and revised its target price from $9 to $8.
This stock has fluctuated between a low of $8.54 and a high of $12.99 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $18.5 within the next 12 months. Magic Software Enterprises Ltd [NASDAQ: MGIC] shares were valued at $11.95 at the most recent close of the market. An investor can expect a potential return of 54.81% based on the average MGIC price forecast.
Analyzing the MGIC fundamentals
Trailing Twelve Months sales for Magic Software Enterprises Ltd [NASDAQ:MGIC] were 535.48M which represents 10.41% growth. Gross Profit Margin for this corporation currently stands at 0.28% with Operating Profit Margin at 0.11%, Pretax Profit Margin comes in at 0.1%, and Net Profit Margin reading is 0.06%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.13 and Total Capital is 0.15. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.24.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 11.16 points at the first support level, and at 10.36 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.60, and for the 2nd resistance point, it is at 13.24.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Magic Software Enterprises Ltd [NASDAQ:MGIC] is 1.76. As well, the Quick Ratio is 1.76, while the Cash Ratio is 0.66. Considering the valuation of this stock, the price to sales ratio is 1.10, the price to book ratio is 2.10 and price to earnings (TTM) ratio is 16.95.
