Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Magic Software Enterprises Ltd (NASDAQ: MGIC) improved in the last week. MGIC’s current Value Trend Rating is C and the prior Rating was D. Details supporting this higher rating are included in our next report.
Recent Price Action
Magic Software Enterprises Ltd (NASDAQ: MGIC) stock closed at $11.19 on 10/18/24 after a slight gain of 0.3%. However, exceptionally low trading volume at 33% of normal accompanied the advance. The stock has risen 1.8% during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
MGIC is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Magic Software Enterprises has a current Value Trend Rating of C (Low Neutral). This VT Rating improved in recent days from D previously. With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. Magic Software Enterprises has a neutral Appreciation Score of 45 and a neutral Power Rating of 42, resulting in the Low Neutral Value Trend Rating.
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