Magic Software Enterprises (NASDAQ:MGIC) Upgraded to “Strong-Buy” by StockNews.com

Magic Software Enterprises (MSE) is a software company that provides solutions for healthcare providers and payers. The company's flagship product, Kronos, is an electronic health records (EHR) system that helps healthcare providers manage patient data and improve patient outcomes.

On August 19, 2021, StockNews.com upgraded its recommendation on MSE from "Hold" to "Strong-Buy." This upgrade was based on the company's strong financial performance and growth prospects.

In Q2 2021, MSE reported revenue of $37.9 million, which represents a 14% increase compared to the same period in the previous year. The company also reported net income of $5.8 million, which is a significant improvement from the net loss of $1.6 million in Q2 2020.

MSE's growth prospects are driven by its expanding customer base and increasing demand for its EHR solutions. The company has a strong presence in the healthcare industry, with over 5,000 customers across the United States. Additionally, MSE is well-positioned to benefit from the ongoing shift towards digital healthcare, as more providers look to adopt EHR systems to improve patient care and reduce costs.

Overall, StockNews.com's upgrade of MSE to "Strong-Buy" reflects the company's strong financial performance and growth prospects in the healthcare technology market.