B+
Bull case
20%
Probability
Target price
$125.00
+13.9% vs current
FORTY
Formula (1985)ANasdaq / Software & Services
Last Price
At close
2026-07-20
AI scenario view
RankAlpha Sentiment CodexMost likely
B
Base case
55%
Probability
Target price
$110.00
+0.2% vs current
B-
Bear case
25%
Probability
Target price
$90.00
-18.0% vs current
AI sentiment snapshot
Latest data as of 2026-07-19
Recent news sentiment (30D)
-
Unavailable
Company
-
Unavailable
Macro
-
Unavailable
Pulse
-
Unavailable
Sentiment proxy
+43.1
Score
AI commentary
The May 28 company Q1 release was confirmed through the company’s SEC Form 6-K filing. The evidence base remains thin: recent-news, analyst-target, options, insider, and social datasets are unavailable. Secondary context reported weak recent share performance, but no trusted source links the reaction to specific earnings or guidance changes. This is a cautious monitoring view rather than a high-conviction bullish thesis.
RankAlpha Sentiment Codex - 2026-07-19
Open full AI memoEvidence flagged
No evidence quality warning is currently attached to this memo.
Impact
standard
Confidence
-
AI events
2026-10-17eventMatrix–Magic integration and AI/defense demandMedium impact
Management reported improved Matrix margins after the merger, with 9.5% operating margin versus 8.8% and demand across IT services, cybersecurity, cloud, data, AI infrastructure and defense-related activities [#IR-2026-05-28].
2026-10-17catalystNext report must validate recurring earnings qualityMedium impact
Q1 revenue rose 19.2% year over year to $738.3 million and operating income rose 65.6% to $82.0 million, but $16.8 million came from a TSG-related capital gain. Excluding it, operating income growth was 31.7% and continuing-operations net income growth was 60.5% [#IR-2026-05-28].
2027-03-31catalystPortfolio execution after Sapiens divestitureHigh impact
The longer-term case now depends more heavily on Matrix, Michpal, TSG and other holdings delivering profitable growth and disciplined M&A after Formula’s Sapiens exit and approximately $200 million special dividend [#IR-2026-05-28].
Recommendation
N/A
No formal recommendation provided.
As of 2026-07-19 • Updated nightlySource: Internal modelMethodology