Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Magic Software Enterprises Ltd (NASDAQ: MGIC) weakened of late. MGIC’s current Value Trend Rating is D and the prior Rating was C. Details supporting this lower rating are included in our next report.
Recent Price Action
On 10/25/24, Magic Software Enterprises Ltd (NASDAQ: MGIC) stock increased 1.1%, closing at $11.18. However, exceptionally low trading volume at 49% of normal accompanied the advance. The stock has performed in line with the market over the last nine months and is unchanged 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). 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 44 and a neutral Power Rating of 42, resulting in the Negative Value Trend Rating.
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