Barclays Reiterates Overweight Rating on Magic Software (MGIC)

Barclays analyst Tavy Rosner reiterated an Overweight rating and $14.00 price target on Magic Software (NASDAQ: MGIC).

The analyst commented, "MGIC's 1Q results were broadly in line with our estimates with a beat on the bottom line and y/y margin improvement, which we think reflects management's strong execution navigating the near-term slower growth environment."

For an analyst ratings summary and ratings history on Magic Software click here. For more ratings news on Magic Software click here.

Shares of Magic Software closed at $11.71 yesterday.

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