Magic Software Enterprises (NASDAQ:MGIC – Get Free Report) posted its quarterly earnings data on Tuesday. The software maker reported $0.24 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $137.00 million. Magic Software Enterprises updated its FY 2025 guidance to EPS.
Magic Software Enterprises Trading Up 4.2 %
MGIC opened at $13.39 on Wednesday. The company has a market cap of $657.44 million, a P/E ratio of 19.13 and a beta of 1.11. 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 company’s 50 day moving average is $12.54 and its 200-day moving average is $11.82. Magic Software Enterprises has a 1-year low of $9.51 and a 1-year high of $14.04.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on MGIC shares. William Blair lowered shares of Magic Software Enterprises from an “outperform” rating to a “market perform” rating in a research report on Wednesday. StockNews.com cut Magic Software Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Barclays lifted their price target on Magic Software Enterprises from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th.
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.
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