Shares of Magic Software Enterprises Ltd (MGIC, Financial) surged 7.95% in mid-day trading on Nov 29. The stock reached an intraday high of $13.40, before settling at $12.90, up from its previous close of $11.95. This places 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 Forecast
Based on the one-year price targets offered by 1 analysts, 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 estimate data can be found on the Magic Software Enterprises Ltd (MGIC) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, Magic Software Enterprises Ltd's (MGIC, Financial) average brokerage recommendation is currently 1.5, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Magic Software Enterprises Ltd (MGIC, Financial) in one year is $12.89, suggesting a downside of 0.08% from the current price of $12.9001. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Magic Software Enterprises Ltd (MGIC) Summary page.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
