News articles about Magic Software Enterprises (NASDAQ:MGIC) have trended positive on Sunday, Accern reports. The research firm identifies positive and negative media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Magic Software Enterprises earned a media sentiment score of 0.27 on Accern’s scale. Accern also gave news headlines about the software maker an impact score of 47.1790728585458 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

These are some of the headlines that may have impacted Accern Sentiment’s scoring:

MGIC has been the subject of a number of recent research reports. HC Wainwright set a $10.00 price objective on shares of Magic Software Enterprises and gave the company a “buy” rating in a research note on Thursday. BidaskClub downgraded shares of Magic Software Enterprises from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Saturday. Barclays PLC reaffirmed an “overweight” rating and set a $10.00 price objective (up from $9.50) on shares of Magic Software Enterprises in a report on Wednesday, May 17th. Finally, Rodman & Renshaw reaffirmed a “buy” rating and set a $10.00 price objective (up from $9.00) on shares of Magic Software Enterprises in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $9.75.

Shares of Magic Software Enterprises (NASDAQ MGIC) traded down 0.63% during midday trading on Friday, reaching $7.95. 15,491 shares of the company’s stock were exchanged. Magic Software Enterprises has a 12-month low of $6.51 and a 12-month high of $8.70. The company has a market cap of $350.85 million, a price-to-earnings ratio of 28.29 and a beta of 0.64. The stock’s 50 day moving average price is $8.01 and its 200 day moving average price is $7.83.

Magic Software Enterprises (NASDAQ:MGIC) last issued its quarterly earnings data on Wednesday, August 9th. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Magic Software Enterprises had a net margin of 5.08% and a return on equity of 10.49%. The firm had revenue of $65.50 million for the quarter, compared to the consensus estimate of $52.65 million. During the same quarter in the previous year, the firm earned $0.12 EPS. The company’s quarterly revenue was up 38.2% compared to the same quarter last year. Equities analysts anticipate that Magic Software Enterprises will post $0.54 earnings per share for the current fiscal year.

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About Magic Software Enterprises

Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.

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