Should I buy or sell Magic Software Enterprises stock right now?

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Magic Software Enterprises in the last twelve months. There are currently 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" MGIC shares. View MGIC analyst ratings or view top-rated stocks .

What is Magic Software Enterprises' stock price target for 2024?

1 Wall Street analysts have issued 12 month target prices for Magic Software Enterprises' stock. Their MGIC share price targets range from $18.00 to $18.00. On average, they anticipate the company's share price to reach $18.00 in the next year. This suggests a possible upside of 95.9% from the stock's current price. View analysts price targets for MGIC or view top-rated stocks among Wall Street analysts .

How have MGIC shares performed in 2023?

Magic Software Enterprises' stock was trading at $16.0229 at the start of the year. Since then, MGIC stock has decreased by 42.6% and is now trading at $9.19. View the best growth stocks for 2023 here .

Are investors shorting Magic Software Enterprises?

Magic Software Enterprises saw a drop in short interest in November. As of November 15th, there was short interest totaling 37,500 shares, a drop of 25.1% from the October 31st total of 50,100 shares. Based on an average daily volume of 35,800 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.1% of the shares of the company are sold short. View Magic Software Enterprises' Short Interest .

When is Magic Software Enterprises' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, March 14th 2024. View our MGIC earnings forecast .

How were Magic Software Enterprises' earnings last quarter?

Magic Software Enterprises Ltd. (NASDAQ:MGIC) announced its quarterly earnings data on Monday, August, 14th. The software maker reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The software maker had revenue of $137.58 million for the quarter, compared to the consensus estimate of $142.30 million. Magic Software Enterprises had a trailing twelve-month return on equity of 18.39% and a net margin of 6.94%.

How often does Magic Software Enterprises pay dividends? What is the dividend yield for Magic Software Enterprises?

Magic Software Enterprises declared a Semi-Annual dividend on Monday, August 14th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.327 per share on Wednesday, September 13th. This represents a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from the stock's previous Semi-Annual dividend of $0.23. Read our dividend analysis for MGIC .

Is Magic Software Enterprises a good dividend stock?

Magic Software Enterprises (NASDAQ:MGIC) pays an annual dividend of $0.65 per share and currently has a dividend yield of 6.98%. MGIC has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 83.33%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, MGIC will have a dividend payout ratio of 67.71% next year. This indicates that the company will be able to sustain or increase its dividend. Read our dividend analysis for MGIC .

What guidance has Magic Software Enterprises issued on next quarter's earnings?

Magic Software Enterprises updated its fourth quarter 2023 earnings guidance on Wednesday, November, 8th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $115.00 million-$125.00 million, compared to the consensus revenue estimate of $148.77 million.

What is Guy Bernstein's approval rating as Magic Software Enterprises' CEO?

13 employees have rated Magic Software Enterprises Chief Executive Officer Guy Bernstein on Glassdoor.com . Guy Bernstein has an approval rating of 61% among the company's employees. This puts Guy Bernstein in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Magic Software Enterprises own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Magic Software Enterprises investors own include Activision Blizzard (ATVI) , Walt Disney (DIS) , Gilead Sciences (GILD) , Shopify (SHOP) , Block (SQ) , Tesla (TSLA) , Trade Desk (TTD) , AbbVie (ABBV) , Applied Materials (AMAT) and Alibaba Group (BABA) .

Who are Magic Software Enterprises' major shareholders?

Magic Software Enterprises' stock is owned by a variety of institutional and retail investors. Top institutional investors include Harel Insurance Investments & Financial Services Ltd. (5.33%), Phoenix Holdings Ltd. (1.43%), Naples Global Advisors LLC (0.66%), Aptus Capital Advisors LLC (0.24%), Yelin Lapidot Holdings Management Ltd. (0.22%) and Paradiem LLC (0.15%).

How do I buy shares of Magic Software Enterprises?

Shares of MGIC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull , Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here .

Magic Software Enterprises Stock Price, News & Analysis (NASDAQ:MGIC)

$9.17

-0.19 (-2.03%)

(As of 11/30/2023 ET)

Compare

Today's Range: $9.08
▼
$9.33
50-Day Range: $8.27
▼
$11.29
52-Week Range: $8.15
▼
$17.67

Volume: 20,678 shs
Average Volume: 26,316 shs
Market Capitalization: $450.16 million

P/E Ratio: 11.76
Dividend Yield: 7.09%
Price Target: $18.00

Magic Software Enterprises MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 95.9% Upside
$18.00 Price Target
Short Interest: Healthy
0.14% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: N/A
News Sentiment: 0.96
Based on 4 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: N/A

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.65 out of 5 stars

Computer And Technology Sector

84th out of 601 stocks

Prepackaged Software Industry

18th out of 205 stocks

3.5

Analyst's Opinion

Consensus Rating
Magic Software Enterprises has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $18.00, Magic Software Enterprises has a forecasted upside of 95.9% from its current price of $9.19.
Amount of Analyst Coverage
Magic Software Enterprises has received no research coverage in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
0.14% of the float of Magic Software Enterprises has been sold short.
Short Interest Ratio / Days to Cover
Magic Software Enterprises has a short interest ratio ("days to cover") of 1, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Magic Software Enterprises has recently decreased by 25.15%, indicating that investor sentiment is improving significantly.

2.5

Dividend Strength

Dividend Leadership
Magic Software Enterprises is a leading dividend payer. It pays a dividend yield of 6.98%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Magic Software Enterprises has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of Magic Software Enterprises is 83.33%. Payout ratios above 75% are not desirable because they may not be sustainable.
Dividend Sustainability
Based on earnings estimates, Magic Software Enterprises will have a dividend payout ratio of 67.71% next year. This indicates that Magic Software Enterprises will be able to sustain or increase its dividend.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for MGIC.

3.3

News and Social Media Coverage

News Sentiment
Magic Software Enterprises has a news sentiment score of 0.96. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.56 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 4 news articles for Magic Software Enterprises this week, compared to 1 article on an average week.
Search Interest
3 people have searched for MGIC on MarketBeat in the last 30 days. This is an increase of 200% compared to the previous 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Magic Software Enterprises insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 4.49% of the stock of Magic Software Enterprises is held by insiders.
Percentage Held by Institutions
Only 14.25% of the stock of Magic Software Enterprises is held by institutions.

1.3

Earnings and Valuation

Earnings Growth
Earnings for Magic Software Enterprises are expected to remain at $0.96 per share in the coming year.
Price to Earnings Ratio vs. the Market
The P/E ratio of Magic Software Enterprises is 11.78, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 117.46.
Price to Earnings Ratio vs. Sector
The P/E ratio of Magic Software Enterprises is 11.78, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 235.44.
Price to Book Value per Share Ratio
Magic Software Enterprises has a P/B Ratio of 1.67. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Magic Software Enterprises Stock (NASDAQ:MGIC)

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. The company's Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services. Its IT Professional Services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, and supplemental outsourcing services. It also offers proprietary application platforms, such as Magic xpa for developing and deploying business applications; AppBuilder for building, deploying, and maintaining business applications; Magic xpi for application integration; Magic xpi cloud native; FactoryEye for virtualization of production data; Magic Data Management and Analytics Platform for data management; and Magic SmartUX for cross-platform mobile business applications. It also provides vertical software solutions comprising Clicks, a software solution for healthcare providers; Leap, a software solution for business support systems; Hermes Cargo, a packaged software solution for managing air cargo ground handling; HR Pulse, a single-tenant software as a service tool; MBS Solution, a system for managing TV broadcast management; Nativ, a system for management of rehabilitation centers; and Mobisale, a system for sales and distribution field activities for consumer goods manufacturers and wholesalers. In addition, the company provides software maintenance, support, training, and consulting services. The company was formerly known as Mashov Software Export (1983) Ltd. and changed its name to Magic Software Enterprises Ltd. in 1991. The company was incorporated in 1983 and is headquartered in Or Yehuda, Israel.

MGIC Stock Price History

30 days | 90 days | 365 days | Advanced Chart

MGIC Stock News Headlines

November 29, 2023 | finance.yahoo.com

The past year for Magic Software Enterprises (NASDAQ:MGIC) investors has not been profitable

November 25, 2023 | americanbankingnews.com

Magic Software Enterprises (NASDAQ:MGIC) Stock Rating Upgraded by StockNews.com

November 30, 2023 | Autonomix (Ad)

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November 15, 2023 | finance.yahoo.com

Magic Software Enterprises Ltd. (NASDAQ:MGIC) Q3 2023 Earnings Call Transcript

November 15, 2023 | finance.yahoo.com

One Analyst Just Shaved Their Magic Software Enterprises Ltd. (NASDAQ:MGIC) Forecasts Dramatically

November 14, 2023 | benzinga.com

Magic Software: Q3 Earnings Insights

November 14, 2023 | finance.yahoo.com

Magic Software Reports Third Quarter 2023 Financial Results

November 13, 2023 | benzinga.com

Magic Software's Earnings: A Preview

November 30, 2023 | Autonomix (Ad)

[Investor Alert] Potential Breakthrough Medical Tech Investment Opportunity

November 8, 2023 | morningstar.com

Magic Software Enterprises Ltd MGIC

November 8, 2023 | msn.com

Update: MGIC, STER, HRB and ACEL, November 8

November 8, 2023 | finanznachrichten.de

Magic Software Enterprises Ltd.: Magic Software Announces Selected Preliminary Third Quarter 2023 Financial Results

November 8, 2023 | finance.yahoo.com

MAGIC SOFTWARE ANNOUNCES SELECTED PRELIMINARY THIRD QUARTER 2023 FINANCIAL RESULTS

November 3, 2023 | seekingalpha.com

Magic Software: A Cheap IT Pick With A High Dividend Yield

October 26, 2023 | finance.yahoo.com

Magic Software Enterprises Ltd (MGK.MU)

October 3, 2023 | stocknews.com

3 Software Stocks Set to Profit in October

August 24, 2023 | finance.yahoo.com

There's A Lot To Like About Magic Software Enterprises' (NASDAQ:MGIC) Upcoming US$0.33 Dividend

August 17, 2023 | finance.yahoo.com

Magic Software Enterprises (NASDAQ:MGIC) Is Paying Out A Larger Dividend Than Last Year

August 15, 2023 | markets.businessinsider.com

Magic (MGIC) Receives a Buy from Barclays

August 14, 2023 | finanznachrichten.de

Magic Software Enterprises Ltd.: Magic Software Reports Second Quarter 2023 Financial Results

August 14, 2023 | finance.yahoo.com

Could The Market Be Wrong About Magic Software Enterprises Ltd. (NASDAQ:MGIC) Given Its Attractive Financial Prospects?

August 14, 2023 | finance.yahoo.com

Magic Software Reports Second Quarter 2023 Financial Results

August 7, 2023 | seekingalpha.com

Magic Software: M&A Deals May Not Come Through As Hoped

July 31, 2023 | finance.yahoo.com

Magic Software Enterprises Ltd. (NASDAQ:MGIC) most popular amongst public companies who own 46% of the shares, institutions hold 28%

May 25, 2023 | msn.com

Magic Software Enterprises Sees Slower Growth In 2023

May 18, 2023 | msn.com

Recap: Magic Software Q1 Earnings

May 18, 2023 | msn.com

Magic Software (MGIC) Lags Q1 Earnings and Revenue Estimates

See More Headlines

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Company Calendar

Last Earnings: 8/14/2023
Ex-Dividend for 9/13 Dividend: 8/29/2023
Dividend Payable: 9/13/2023
Today: 11/30/2023
Fiscal Year End: 12/31/2023
Next Earnings (Estimated): 3/14/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Prepackaged software
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NASDAQ:MGIC
CUSIP: N/A
CIK: 876779
Web: www.magicsoftware.com
Phone: (723) 538-9292
Fax: 972-3538-9333
Employees: 4,161
Year Founded: 1983

Price Target and Rating

Average Stock Price Target: $18.00
High Stock Price Target: $18.00
Low Stock Price Target: $18.00
Potential Upside/Downside: +96.3%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 1 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.78
Trailing P/E Ratio: 11.76
Forward P/E Ratio: 9.55
P/E Growth: N/A
Net Income: $40.47 million
Net Margins: 6.94%
Pretax Margin: 9.75%
Return on Equity: 18.39%
Return on Assets: 9.85%

Debt

Debt-to-Equity Ratio: 0.21
Current Ratio: 1.76
Quick Ratio: 1.76

Sales & Book Value

Annual Sales: $566.79 million
Price / Sales: 0.79
Cash Flow: $1.43 per share
Price / Cash Flow: 6.40
Book Value: $5.50 per share
Price / Book: 1.67

Miscellaneous

Outstanding Shares: 49,090,000
Free Float: 46,889,000
Market Cap: $450.16 million
Optionable: Optionable
Beta: 1.20

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Key Executives

Mr. Asaf Berenstin (Age 45)
Chief Financial Officer
Comp: $548k
Mr. Arik Kilman (Age 70)
Chairman of Software Solutions Division
Comp: $581k
Mr. Arik Faingold (Age 46)
President of Integration Solutions Division
Comp: $622k
Mr. Yakov Tsaroya (Age 53)
Chief Executive Officer of Coretech Consulting Group LLC, Fusion Solution LLC & Xsell Resources Inc.
Comp: $1.82M
Eli Schwartz
Chief Executive Officer of Comblack I.T. Ltd.
Mr. Guy Bernstein (Age 55)
CEO & Director
Mr. Yuval Lavi (Age 54)
Chief Technology Officer
Mr. Amit Birk (Age 52)
VP of Mergers & Acquisitions, General Counsel & Corporate Secretary
Comp: $259.88k
Ms. Karin Netzer
Chief Marketing Officer
Yael Ilan (Age 54)
Chief Executive Officer of Complete Business Solutions

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

MGIC Stock Analysis - Frequently Asked Questions

Should I buy or sell Magic Software Enterprises stock right now?: 1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Magic Software Enterprises in the last twelve months. There are currently 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" MGIC shares.
View MGIC analyst ratings or view top-rated stocks.
What is Magic Software Enterprises' stock price target for 2024?: 1 Wall Street analysts have issued 12 month target prices for Magic Software Enterprises' stock. Their MGIC share price targets range from $18.00 to $18.00. On average, they anticipate the company's share price to reach $18.00 in the next year. This suggests a possible upside of 95.9% from the stock's current price.
View analysts price targets for MGIC or view top-rated stocks among Wall Street analysts.
How have MGIC shares performed in 2023?: Magic Software Enterprises' stock was trading at $16.0229 at the start of the year. Since then, MGIC stock has decreased by 42.6% and is now trading at $9.19.
View the best growth stocks for 2023 here.
Are investors shorting Magic Software Enterprises?: Magic Software Enterprises saw a drop in short interest in November. As of November 15th, there was short interest totaling 37,500 shares, a drop of 25.1% from the October 31st total of 50,100 shares. Based on an average daily volume of 35,800 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.1% of the shares of the company are sold short.
View Magic Software Enterprises' Short Interest.
When is Magic Software Enterprises' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, March 14th 2024.
View our MGIC earnings forecast.
How were Magic Software Enterprises' earnings last quarter?: Magic Software Enterprises Ltd. (NASDAQ:MGIC) announced its quarterly earnings data on Monday, August, 14th. The software maker reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The software maker had revenue of $137.58 million for the quarter, compared to the consensus estimate of $142.30 million. Magic Software Enterprises had a trailing twelve-month return on equity of 18.39% and a net margin of 6.94%.
How often does Magic Software Enterprises pay dividends? What is the dividend yield for Magic Software Enterprises?: Magic Software Enterprises declared a Semi-Annual dividend on Monday, August 14th. Stockholders of record on Wednesday, August 30th will be paid a dividend of $0.327 per share on Wednesday, September 13th. This represents a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from the stock's previous Semi-Annual dividend of $0.23.
Read our dividend analysis for MGIC.

Is Magic Software Enterprises a good dividend stock?: Magic Software Enterprises (NASDAQ:MGIC) pays an annual dividend of $0.65 per share and currently has a dividend yield of 6.98%. MGIC has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 83.33%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, MGIC will have a dividend payout ratio of 67.71% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MGIC.
What guidance has Magic Software Enterprises issued on next quarter's earnings?: Magic Software Enterprises updated its fourth quarter 2023 earnings guidance on Wednesday, November, 8th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $115.00 million-$125.00 million, compared to the consensus revenue estimate of $148.77 million.
What is Guy Bernstein's approval rating as Magic Software Enterprises' CEO?: 13 employees have rated Magic Software Enterprises Chief Executive Officer Guy Bernstein on Glassdoor.com. Guy Bernstein has an approval rating of 61% among the company's employees. This puts Guy Bernstein in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.
What other stocks do shareholders of Magic Software Enterprises own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Magic Software Enterprises investors own include Activision Blizzard (ATVI), Walt Disney (DIS), Gilead Sciences (GILD), Shopify (SHOP), Block (SQ), Tesla (TSLA), Trade Desk (TTD), AbbVie (ABBV), Applied Materials (AMAT) and Alibaba Group (BABA).
Who are Magic Software Enterprises' major shareholders?: Magic Software Enterprises' stock is owned by a variety of institutional and retail investors. Top institutional investors include Harel Insurance Investments & Financial Services Ltd. (5.33%), Phoenix Holdings Ltd. (1.43%), Naples Global Advisors LLC (0.66%), Aptus Capital Advisors LLC (0.24%), Yelin Lapidot Holdings Management Ltd. (0.22%) and Paradiem LLC (0.15%).
How do I buy shares of Magic Software Enterprises?: Shares of MGIC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:MGIC) was last updated on 11/30/2023 by MarketBeat.com Staff

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