Shares of Magic Software Enterprises Ltd (MGIC, Financial) rose 7.95% in afternoon trading on November 29. The stock hit an intraday high of $13.40 before settling at $12.90, up from the previous close of $11.95. This puts MGIC 3.73% below its 52-week high of $13.40 and 43.33% above its 52-week low of $9.00. Trading volume was 98,738 shares, 269.0% of the average daily volume of 36,705.
Wall Street analysts predict
Based on analysts’ one-year price targets, the average target price for Magic Software Enterprises Ltd (MGIC, Financial) is $15.00 with a high estimate of $15.00 and a low estimate of $15.00. The average target implies an upside of 16.28% from the current price of $12.90. More detailed estimation data can be found on the Magic Software Enterprises Ltd (MGIC) forecast page.
Based on the consensus recommendation of two brokerage firms, the average broker recommendation of Magic Software Enterprises Ltd (MGIC, Financial) is currently 1.5, indicating a “Buy” status. The rating scale runs from 1 to 5, with 1 being a strong buy and 5 being a sell.
Based on GuruFocus estimates, the estimated GF value for Magic Software Enterprises Ltd (MGIC, Financial) in one year is $12.89, which suggests a downside of 0.08% from the current price of $12.9001. GF Value is GuruFocus’ estimate of the fair value at which the stock should trade. It is calculated based on the historical multiples that the stock has previously traded at, as well as the past business growth and future estimates of the company’s performance. More detailed data can be found on the Magic Software Enterprises Ltd (MGIC) summary page.
This article, generated by GuruFocus, is intended to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst forecasts, uses an unbiased methodology and is not intended as specific investment guidance. It does not make a recommendation to purchase or dispose of shares and does not take into account individual investment objectives or financial circumstances. Our goal is to deliver fundamental, long-term data-driven analysis. Please note that our analysis may not include the most recent price-sensitive company announcements or qualitative information. GuruFocus has no positions in the stocks mentioned herein.
