Magic Software Sees Q4 Revenue Of $115M-$125M Vs. $133.65M Est.
Portfolio Pulse from Benzinga Newsdesk
Magic Software forecasts Q4 revenue to be between $115M-$125M, which falls short of the estimated $133.65M.
November 14, 2023 | 12:53 pm
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Magic Software's projected Q4 revenue is below analysts' expectations, which may lead to a negative short term impact on its stock price.
Revenue forecasts that are lower than analyst estimates typically result in negative investor sentiment and can lead to a decrease in stock price in the short term. As the revenue miss is significant, it is likely to have a substantial impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100