Magic Software (NASDAQ:MGIC) Stock, Quote.Headers.trade-ideas

Magic Software

Magic Software Enterprises Ltd is a software development company. The company's operating segment includes Software Services and IT Professional Services. It 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.

information technology

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MGIC

Magic Software (NASDAQ: MGIC) reported Q4 revenue decline of 14.7% and beat consensus estimates. EPS and margins also improved. 2024 revenue guidance also exceeded consensus. MGIC stock gained 6.92%.

IT Consulting Services Firm Magic Software Enterprises Stock Soars On Wednesday - Here&#39;s Why

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Magic Software Enterprises Ltd. - Ordinary Shares

Magic Software Enterprises Ltd

MGIC Investment Corp

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.

Price Target

Analyst Ratings

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 Beats

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

WIIM

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

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

Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-03-13. Here's what investors need to know before the announcement.
Analysts estimate that Magic Software will report an earnings per share (EPS) of $0.19. 
Magic Software bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.05, which was followed by a 2.18% drop in the share price the next day.
Here's a look at Magic Software's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.26</td>
<td>0.26</td>
<td>0.28</td>
<td>0.26</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.21</td>
<td>0.28</td>
<td>0.26</td>
<td>0.28</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>-3.0%</td>
<td>1.0%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1710255723_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Magic Software were trading at $10.52 as of March 11. Over the last 52-week period, shares are down 18.39%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/MGIC/earnings">To track all earnings releases for Magic Software visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview: Magic Software

Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) reported its Q3 earnings results on Tuesday, November 14, 2023 at 07:47 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Magic Software missed estimated earnings by 19.23%, reporting an EPS of $0.21 versus an estimate of $0.26.
Revenue was down $14.48 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.02 which was followed by a 2.91% drop in the share price the next day.
Here's a look at Magic Software's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.26</td>
<td>0.28</td>
<td>0.26</td>
<td>0.27</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.28</td>
<td>0.26</td>
<td>0.28</td>
<td>0.28</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>142.30M</td>
<td>143.40M</td>
<td>142.98M</td>
<td>131.75M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>137.58M</td>
<td>142.44M</td>
<td>147.15M</td>
<td>143.96M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Magic Software <a href="https://www.benzinga.com/quote/MGIC/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Magic Software: Q3 Earnings Insights

Magic Software Sees Q4 Revenue Of $115M-$125M Vs. $133.65M Est.

Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) reported quarterly adjusted earnings of $0.21 per share which missed the analyst consensus estimate of $0.27 by 22.22 percent. This is a 25 percent decrease over earnings of $0.28 per share from the same period last year. The company reported quarterly sales of $129.48 million which missed the analyst consensus estimate of $146.40 million by 11.55 percent. This is a 10.06 percent decrease over sales of $143.96 million the same period last year.

Magic Software Q3 Adj. EPS $0.21 Misses $0.27 Estimate, Sales $129.48M Miss $146.40M Estimate

Magic Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGIC#NASDAQ">MGIC</a>) is set to give its latest quarterly earnings report on Tuesday, 2023-11-14. Here's what investors need to know before the announcement.
Analysts estimate that Magic Software will report an earnings per share (EPS) of $0.27. 
Magic Software bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.02, which was followed by a 2.91% drop in the share price the next day.
Here's a look at Magic Software's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.26</td>
<td>0.28</td>
<td>0.26</td>
<td>0.27</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.28</td>
<td>0.26</td>
<td>0.28</td>
<td>0.28</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.91%</td>
<td>1.35%</td>
<td>-1.66%</td>
<td>1.01%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1699884104_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Magic Software were trading at $8.65 as of November 10. Over the last 52-week period, shares are down 51.37%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/MGIC/earnings">To track all earnings releases for Magic Software visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Magic Software's Earnings: A Preview

Magic Software shares are trading lower after the company lowered its FY23 sales guidance.

Magic Software Sees Q3 2023 Revenue ~$129.3M Vs $146.4M Estimate, $142.4M-$143.1M Prior

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 lowers the price target from $23 to $18.

Barclays Maintains Overweight on Magic Software, Lowers Price Target to $18

Press Releases

Magic Software to Announce Fourth Quarter and Full year 2023 Financial Results on March 13th, 2024

Magic Software Reports Fourth Quarter and Full Year 2023 Financial Results

Melanie McFaddin with Wiley Bros – Aintree Capital &Partners, LLC Represents Theoris, Inc. in its Acquisition by CoreTech Consulting Group, LLC

Dividends

Insurance

MGIC Investment Announces Additional $750 Million Share Repurchase Program and Quarterly Dividend of $0.115 Per Share

Magic Software Reports First Quarter 2024 Financial Results

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

Barclays

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