Magic Software Enterprises Ltd. Stock News

Magic Software Price In Attractive Territory

Magic Software Enterprises Ltd. (NASDAQ:MGIC ) Q3 2024 Earnings Conference Call November 18, 2024 9:30 AM ET Company Participants Asaf Berenstin - CFO Guy Bernstein - CEO Conference Call Participants Tavy Rosner - Barclays Kate Kronstein - William Blair Operator Ladies and gentlemen, thank you for standing by.

OR YEHUDA, Israel, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) (“the Company”), a global provider of IT consulting services and end-to-end integration and application development platforms solutions, announced today its financial results for the third quarter and first nine months period ended September 30, 2024.

Magic Software remains a Buy leading up to Q3, with potential for a 26% price CAGR over three years, supported by undervaluation and dividend yield. Q3 earnings could act as a moderate catalyst. Management is guiding for revenue contraction that I think could be outperformed, with good EPS growth likely, making it a buying opportunity. Geopolitical tensions (especially risks of a large war arou...