Stock Rating Downgrade
The Value Trend Rating for Magic Software Enterprises Ltd (NASDAQ: MGIC) weakened of late 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 declined slightly by -0.3% on 9/27/24. The stock closed at $11.88. However, trading volume in this decline was exceptionally low at 27% of normal. The stock has performed in line with the market over the last nine months and has risen 2.9% 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 D (Negative). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Magic Software Enterprises has a neutral Power Rating of 43 and a neutral Appreciation Score of 41, producing the Negative Value Trend Rating.
Be the first to comment