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FORTY

Formula (1985)D
Nasdaq / Software & Services
Last Price
Quote time unavailable
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Current thesis
The company-reported Q1 print showed strong revenue and operating growth, including 31.7% operating-income growth and 60.5% adjusted continuing-operations net-income growth after excluding the TSG-related gain. Matrix–Magic consolidation and substantial cash resources provide potential operating and capital-allocation support.
Posture
Defensive
Lead driver
Sentiment
What changed
Sentiment remains the lead driver in the composite.
What can break
Future use of the approximately $1.18 billion cash balance is uncertain.
Momentum
96
Value
71
Sentiment
37
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $108.00 · Bull $123.00 · Bear $85.00Analysis 2026-08-13; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-08-17 • Vendor: Data Vendor v1
Scores
As of 2026-09-10 • Model: HYBRID_IC_RP
AI Memo
As of 2026-08-13 • Model: RankAlpha Sentiment Codex
Investment thesis
As of 2026-09-10

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-10. Definitions

Supporting evidence
What
Grade D · Defensive
Confidence Medium · Net Neutral
Why
Momentum96 · Δ7d -
Value71 · Δ7d -0.0
Sentiment37 · Δ7d -
So what
Weak posture (Net Neutral). Prioritize risk control and patience.

Confirming evidence

  • • Sentiment remains the lead driver in the composite.

Contradictions & invalidation

  • • Future use of the approximately $1.18 billion cash balance is uncertain.
  • • Matrix–Magic integration may not deliver sustained revenue or margin benefits.
  • • Reported profitability benefited from a non-recurring TSG capital gain, while integration execution and future cash deployment remain uncertain.

Catalyst clock

2026-11-11

Matrix–Magic integration execution

Lead driver: Sentiment · See AI snapshot
Momentum
96
9% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Value
71
28% active weight
Current posture
7d trendFlat
Δ7d
-0.0
Δ21d
+0.1
Sentiment
37
62% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Why this grade

Composite grade D. Momentum 96.0 / Value 70.9 / Sentiment 36.9

Scenario snapshot

Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-08-13. Scenario method

B+
Bull case
15%
Probability
Target price
$123.00
Analysis reference price unavailable
Analysis 2026-08-13 · RankAlpha Sentiment Codex
Most likely
B
Base case
50%
Probability
Target price
$108.00
Analysis reference price unavailable
Analysis 2026-08-13 · RankAlpha Sentiment Codex
B-
Bear case
35%
Probability
Target price
$85.00
Analysis reference price unavailable
Analysis 2026-08-13 · RankAlpha Sentiment Codex
Fundamentals (TTM)
As of 2026-08-17
Market Cap
$1.67B
Beta
1.14
Shares Out
15.33M
P/E (TTM)
40.5
P/S (TTM)
0.90
P/FCF (TTM)
9.40
Rev YoY
+19.5%
EPS YoY
+84.9%
Gross Margin
+21.1%
Op Margin
+7.6%
Net Debt
-$689.29M
Current Ratio
1.68
As of 2026-09-10 • Updated nightlySource: Internal modelMethods & Data