Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for Magic Software Enterprises Ltd (NASDAQ: MGIC) improved in recent days. 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 declined by -3.5% on 5/20/24. The shares closed at $11.46. Trading volume in this decline was normal. The stock has performed in line with the market over the last nine months and has declined -7.6% during the last week.
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. The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Magic Software Enterprises has a slightly negative Appreciation Score of 36 and a neutral Power Rating of 57, leading to the Low Neutral Value Trend Rating.
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