Magic Software Enterprises (NASDAQ:MGIC) has been given a $10.00 target price by equities research analysts at HC Wainwright in a report released on Wednesday. The firm currently has a “buy” rating on the software maker’s stock. HC Wainwright’s target price suggests a potential upside of 17.65% from the company’s previous close.

Several other research firms have also weighed in on MGIC. Zacks Investment Research raised Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Tuesday, August 14th. BidaskClub lowered Magic Software Enterprises from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $10.00.

NASDAQ:MGIC opened at $8.50 on Wednesday. Magic Software Enterprises has a 1-year low of $7.75 and a 1-year high of $9.25. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $409.56 million, a price-to-earnings ratio of 18.48 and a beta of 0.82.

Magic Software Enterprises (NASDAQ:MGIC) last released its earnings results on Tuesday, November 13th. The software maker reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Magic Software Enterprises had a net margin of 6.59% and a return on equity of 10.92%. Research analysts anticipate that Magic Software Enterprises will post 0.6 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in MGIC. Jane Street Group LLC bought a new stake in shares of Magic Software Enterprises in the second quarter worth about $259,000. Ramsey Quantitative Systems increased its holdings in shares of Magic Software Enterprises by 54.4% in the third quarter. Ramsey Quantitative Systems now owns 60,989 shares of the software maker’s stock worth $518,000 after acquiring an additional 21,479 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Magic Software Enterprises by 90.9% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,512,090 shares of the software maker’s stock worth $21,353,000 after acquiring an additional 1,196,218 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Magic Software Enterprises by 0.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,292,389 shares of the software maker’s stock worth $10,985,000 after acquiring an additional 10,968 shares in the last quarter. Finally, Naples Global Advisors LLC increased its holdings in shares of Magic Software Enterprises by 21.9% in the second quarter. Naples Global Advisors LLC now owns 99,991 shares of the software maker’s stock worth $830,000 after acquiring an additional 17,934 shares in the last quarter. 12.74% of the stock is currently owned by hedge funds and other institutional investors.

Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and IT outsourcing software services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports a proprietary and none proprietary application platform, software applications, and business and process integration solutions and related services.

Further Reading: Cash Flow Analysis in Stock Selection

Receive News & Ratings for Magic Software Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magic Software Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.