H.C. Wainwright Remains a Buy on Magic Software Enterprises Ltd (MGIC)


In a report released today, Kevin Dede from H.C. Wainwright reiterated a Buy rating on Magic Software Enterprises Ltd (MGIC), with a price target of $10. The company’s shares closed yesterday at $8.50.

According to TipRanks.com, Dede ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -15.3% and a 27.9% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Top Image Systems, Microvision, and Resonant.

Currently, the analyst consensus on Magic Software Enterprises Ltd is a Moderate Buy with an average price target of $10.

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Magic Software Enterprises Ltd’s market cap is currently $414.4M and has a P/E ratio of 20.73. The company has a Price to Book ratio of 1.97.

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Magic Software Enterprises Ltd. engages in the provision of proprietary application development and business process integration platforms, vertical software solutions, and vendor of information technology (IT) outsourcing software services. It operates through Software Services and IT Professional Services segments.

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