Magic Software (NASDAQ:MGIC) Azioni

Magic Software

Magic Software Enterprises Ltd is a software development company. The company's operating segment includes Software Services and IT Professional Services. The company generates maximum revenue from the IT Professional Services segment. IT Professional Services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, as well as supplemental outsourcing services. Geographically, it derives a majority of revenue from the United States and also has a presence in Israel, Europe, Japan, and Other countries.

Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) reported quarterly earnings of $0.25 per share which met the analyst consensus estimate. This is a 8.7 percent increase over earnings of $0.23 per share from the same period last year. The company reported quarterly sales of $147.30 million which beat the analyst consensus estimate of $143.79 million by 2.44 percent. This is a 12.68 percent increase over sales of $130.72 million the same period last year.

Earnings

Earnings Beats

News

MGIC

Magic Software Q1 Adj. EPS $0.25, Inline, Sales $147.30M Beat $143.79M Estimate

Barclays analyst Tavy Rosner maintains Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) with a Overweight and raises the price target from $15 to $16.

Price Target

Analyst Ratings

Barclays Maintains Overweight on Magic Software, Raises Price Target to $16

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>Jefferies analyst Kaumil Gajrawala downgraded the rating for PepsiCo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) from Buy to Hold and lowered the price target from $171 to $170. PepsiCo shares closed at $152.33 on Tuesday. <a href="https://www.benzinga.com/quote/pep/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Ladenburg Thalmann analyst Jeffrey Cohen downgraded Zynex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZYXI#NASDAQ">ZYXI</a>) from Buy to Neutral. Zynex shares closed at $7.00 on Tuesday. <a href="https://www.benzinga.com/quote/zyxi/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush analyst Robert Driscoll downgraded Arvinas, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) from Outperform to Neutral and lowered the price target from $57 to $12. Arvinas shares closed at $8.30 on Tuesday. <a href="https://www.benzinga.com/quote/arvn/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS analyst Graham Doyle downgraded the rating for Smith &amp; Nephew plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNN#NYSE">SNN</a>) from Buy to Neutral. Smith &amp; Nephew shares closed at $29.84 on Tuesday. <a href="https://www.benzinga.com/quote/snn/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>William Blair analyst Maggie Nolan downgraded Magic Software Enterprises Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) from Outperform to Market Perform. Magic Software shares closed at $13.39 on Tuesday. <a href="https://www.benzinga.com/quote/mgic/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying PEP stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="602" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/12130446/image-88-1024x602.png" alt="" class="wp-image-821432" style="width:642px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/12130446/image-88-1024x602.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/12130446/image-88-300x176.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/12130446/image-88-768x451.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/12130446/image-88.png 1152w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Downgrades

Markets

Trading Ideas

ARVN

ZYXI

This PepsiCo Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday

William Blair analyst Maggie Nolan downgrades Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) from Outperform to Market Perform.

William Blair Downgrades Magic Software to Market Perform

WIIM

Magic Software Enterprises shares are trading higher after the company reported a Q4 sales beat and issued FY25 revenue guidance above estimates.

<ul>
<li>Magic is introducing 2025 annual revenue guidance of between $593 million and $603 million (based on current currency exchange rates) reflecting an annual growth of 7.3% to 9.1% compared to prior year.</li>
</ul>

Guidance

Magic Software Sees FY25 Revenue $593M-$603M Vs $565.6M Est.

Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) reported quarterly earnings of $0.24 per share which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported quarterly sales of $142.58 million which beat the analyst consensus estimate of $137.10 million by 4.00 percent. This is a 13.57 percent increase over sales of $125.55 million the same period last year.

Magic Software Q4 Adj $0.24, Inline, Sales $142.58M Beat $137.10M Estimate

The combined entity's aggregate market value is expected to be $2.1 billion (approximately 7.7 billion ILS), a valuation that would place it among the largest publicly traded IT services companies in the U.S and in Europe. Had the Companies already merged in 2024, the combined entity would have reported the following results in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board:
<ul>
<li>Revenues: $2.1 billion.</li>
<li>Gross profit: approximately $382 million (Gross margin: 18.6%).</li>
<li>Operating income: approximately $183 million (Operating margin: 8.9%).</li>
<li>Net income attributable to non-controlling interests: approximately $110.6 million (Net margin: 5.4%).</li>
</ul>
The combined entity is expected to operate in approximately 50 countries, serve around 6,000 active clients, and employ over 15,000 employees.

Reported Earlier, Magic Software And Matrix I.T Sign MOU For Strategic Merger To Form $2.1B Global IT Services Leader

Barclays analyst Tavy Rosner maintains Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) with a Overweight and raises the price target from $14 to $15.

Barclays Maintains Overweight on Magic Software, Raises Price Target to $15

<ul>
<li>We are revising our annual revenue guidance for 2024 increasing the lower range of our revenue guidance from $540 million to $544 million reflecting our continued solid momentum for the remaining part of the year and positive outlook. Our full year revenues guidance for 2024 is $544 million to $550 million.</li>
</ul>

Magic Software Enterprises Expects FY24 Revenue Of $544M-$550M (Prior $540M-$550M) Vs $544.87M Est

Earnings Misses

Magic Software Q3 2024 Adj. EPS $0.23 Misses $0.25 Estimate, Sales $142.968M Beat $137.776M Estimate

Magic is reiterating 2024 annual revenue guidance of between $540 million and $550 million.

Magic Software Enterprises Reiterated FY24 Revenue Of $540M-$550M Vs $544.42M Est

Magic Software Q2 2024 Adj. EPS $0.24, Inline, Sales $136.250M Beat $132.690M Estimate

Magic Software Enterprises shares are trading lower after the company reported a year-over-year decrease in Q1 financial results.

Magic Software Enterprises Reiterates FY24 Revenue $540M-$550M

Magic Software Enterprises Q1 2024 Adj. EPS $0.23 Down From $0.26 YoY; Revenue $130.7M Down From $142.4M YoY

Barclays analyst Tavy Rosner maintains Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) with a Overweight and raises the price target from $13 to $14.

Barclays Maintains Overweight on Magic Software, Raises Price Target to $14

Magic Software Enterprises Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) reported a fourth-quarter revenue decline of 14.7% year-on-year to $125.5 million, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/g37656593/magic-software-reports-fourth-quarter-and-full-year-2023-financial-results" rel="noreferrer noopener">consensus of $117.5 million</a>.
Adjusted EPS of $0.24 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.19</a>. The stock price is gained after the results.
The adjusted gross margin expanded by 150 bps to 30.8%. The adjusted operating margin climbed 140 bps to 14.1%.
The company held $107.1 million in cash and equivalents as of December 31, 2023.
Cash flow from operating activities for the year ended December 31, 2023, amounted to $77.9 million compared to $56.6 million Y/Y.
Guy Bernstein, Chief Executive Officer of Magic Software, said: &#8220;Despite the slowdown we faced during the second half of the year resulting from the headwind facing by some of our customers in certain sectors in the U.S., we remain positive that the vast majority of our customers will continue to value our unique proposition and resume to engage us to an increasing degree as a preferred partner for innovative digital transformation initiatives.&#8221;
Outlook:&nbsp;Magic introduced 2024 annual revenue guidance of $540.00 million &#8211; $550.00 million, compared to the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $473.77 million</a>.
Price Action: MGIC shares traded higher by 6.92% at $11.43 premarket on the last check Wednesday.
Photo by Luca Bravo on Unsplash

Movers

IT Consulting Services Firm Magic Software Enterprises Stock Soars On Wednesday - Here's Why

Magic is introducing 2024 annual revenue guidance of between $540 million and $550 million (based on current currency exchange rates). 
Measured against Magic Software&rsquo;s annualized 2023 fourth quarter revenue on a go-forward basis, the 2024 annual revenue guidance reflects an 
annual growth of 7.5% to 9.5%.

Magic Software Enterprises Expects 2024 Revenue of $540M-$550M Vs $493.59M Est

Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) reported quarterly earnings of $0.24 per share which beat the analyst consensus estimate of $0.19 by 26.32 percent. This is a 14.29 percent decrease over earnings of $0.28 per share from the same period last year. The company reported quarterly sales of $125.55 million which beat the analyst consensus estimate of $117.50 million by 6.85 percent. This is a 14.68 percent decrease over sales of $147.15 million the same period last year.

Magic Software Q4 Adj EPS $0.24 Beats $0.19 Estimate, Sales $125.55M Beat $117.50M Estimate

Press Releases

Magic Software to Announce 2024 Second Quarter Financial Results on August 14th, 2024

Magic Software Reports Second Quarter and First Half 2024 Financial Results

Magic Software Reports Third Quarter and First Nine Months Period Ended September 30, 2024 Financial Results

Magic Software and Matrix I.T sign MOU to Consider Merger

Dividends

Magic Software Reports Fourth Quarter and Full Year 2024 Financial Results

Magic Software Files Annual Report on Form 20-F for the Year Ended December 31, 2024

Magic Software Reports First Quarter 2025 Financial Results

Magic Software Enterprises Ltd. - Ordinary Shares

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Magic Software

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