Magic Software Enterprises Ltd. (NASDAQ:MGIC)’s share price was down 1.3% on Tuesday . The stock traded as low as $6.87 and last traded at $6.92, with a volume of 63,308 shares trading hands. The stock had previously closed at $7.01.

Separately, Zacks Investment Research upgraded shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Friday, June 10th.

The stock has a market cap of $304.95 million and a PE ratio of 20.32. The stock has a 50 day moving average of $6.79 and a 200-day moving average of $6.46.

Magic Software Enterprises (NASDAQ:MGIC) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.03. During the same period last year, the company posted $0.12 EPS. The firm had revenue of $44.70 million for the quarter, compared to the consensus estimate of $43.97 million. The business’s quarterly revenue was up 10.9% on a year-over-year basis. On average, analysts expect that Magic Software Enterprises Ltd. will post $0.59 earnings per share for the current fiscal year.

Magic Software Enterprises Ltd. is a provider of application development, business process integration, and selected vertical software solutions and related professional services. The Company is also a vendor of information technology (IT) outsourcing services. The Company operates through two business segments: software services and IT professional services.

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