Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Up - Time to Buy?

Key Points

• Gapped up: Formula Systems (NASDAQ:FORTY) opened at $142.14 on Tuesday versus a prior close of $132.48, with just 163 shares traded at the open.
• Analyst/technical view: Weiss Ratings reiterated a "Hold" and the consensus rating is Hold; the 50-day moving average ($126.18) is below the current price while the 200-day moving average ($146.61) remains overhead.
• Valuation and fundamentals: The company has a market cap of $2.18B, a low PE of 3.71, quarterly EPS of $35.03 on $708.38M revenue, a net margin of 20.89% and a debt-to-equity ratio of 0.07.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $132.48, but opened at $142.14. Formula Systems (1985) shares last traded at $142.14, with a volume of 163 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold".

Formula Systems (1985) Price Performance

The company has a current ratio of 1.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.18 billion, a PE ratio of 3.71 and a beta of 1.17. The firm has a 50 day moving average price of $126.18 and a 200 day moving average price of $146.61.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 EPS for the quarter. The firm had revenue of $708.38 million during the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Formula Systems (1985) in the 2nd quarter worth $73,000. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) in the 1st quarter worth $206,000. CX Institutional bought a new position in Formula Systems (1985) in the 3rd quarter worth $398,000. GHP Investment Advisors Inc. boosted its holdings in Formula Systems (1985) by 10.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company's stock worth $1,082,000 after buying an additional 755 shares during the period. Finally, Altshuler Shaham Ltd boosted its holdings in Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company's stock worth $1,182,000 after buying an additional 1,650 shares during the period. Institutional investors own 34.76% of the company's stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company's principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.

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