Magic Software Enterprises (NASDAQ:MGIC) Issues Earnings Results

Magic Software Enterprises (NASDAQ:MGIC) issued its earnings results on Tuesday. The software maker reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01), Zacks reports. Magic Software Enterprises had a return on equity of 15.42% and a net margin of 6.49%. The firm had revenue of $142.58 million for the quarter, compared to analyst estimates of $137.00 million. Magic Software Enterprises updated its FY 2025 guidance to EPS.

Magic Software Enterprises Trading Up 4.5 %

NASDAQ MGIC opened at $13.99 on Thursday. Magic Software Enterprises has a 12 month low of $9.51 and a 12 month high of $14.04. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $686.90 million, a P/E ratio of 19.99 and a beta of 1.11. The business has a fifty day simple moving average of $12.58 and a 200 day simple moving average of $11.84.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MGIC. Barclays upped their price objective on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. StockNews.com lowered shares of Magic Software Enterprises from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, William Blair cut shares of Magic Software Enterprises from an “outperform” rating to a “market perform” rating in a research report on Wednesday.

About Magic Software Enterprises

Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud-based services in Israel and internationally. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.