Stock Rating Downgrade
The Value Trend Rating for Magic Software Enterprises Ltd (NASDAQ: MGIC) weakened in the last week from C to D reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
Magic Software Enterprises Ltd (NASDAQ: MGIC) stock closed at $11.42 on 11/15/24 after a modest decline of -1.4%. However, below average trading volume at 81% of normal accompanied the decline. The stock has risen 6.2% during the last week and has performed in line with the market over the last nine months.
Current PriceTarget Research Rating
Magic Software Enterprises has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Magic Software Enterprises has a neutral Appreciation Score of 45 and a slightly negative Power Rating of 38, with the Negative Value Trend Rating the result.
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