Aubay Stock Surpasses €50 After a 30.9% Quarterly Increase
Aubay's share price climbs 5.08% to €50.70 mid-session, defying a CAC 40 that is down by 1.15%. The French IT services company crosses the €50 mark for the first time in several weeks, following the announcement of its quarterly revenue. This comes as the stock had been down 15.36% over the past three months.
Significant Rebound Following Quarterly Publication
Aubay's stock benefits from the positive reception to its first quarter figures, revealed Wednesday evening. The company reported a revenue of €178.2 million, up 30.9% year-over-year, which includes 10.6% organic growth. The integration of Solutec contributed 20.3 points of external growth. The management has reaffirmed its annual targets, expecting organic growth between 3% and 5%. Today's rebound contrasts with the session of comparable IT services sector stocks. Capgemini is up by 0.78% and Sopra Steria Group by 0.52%, while the SBF 120 is down 1.04%. Thus, Aubay has partially recovered from its 15.36% decline over the past three months.
Breaking the 200-Day Moving Average
The stock crosses two technical thresholds in one session. It moves back above its 200-day moving average, which had been at €49.02 and under which it had been trading for several weeks. The price also breaks out from the upper Bollinger bands, which are at €50.19, signaling an unusually large movement. The RSI at 56 remains in a neutral zone, allowing room for the movement before entering an overbought configuration. The very low beta of 0.11 explains the stock's disconnection from the CAC 40's decline this Thursday. The next technical step will be to confirm the maintenance above the 200-day moving average in the upcoming sessions.
