Capgemini stock stumbles below its moving averages, support at €101.15 in sight
The shares of the consulting and IT services group are advancing modestly this Tuesday, within a CAC 40 also trending upward. The session comes after Invest Securities significantly revised its price target, reducing it from €204 to €132, while maintaining its buy rating.
Price target cut by nearly 35% by Invest Securities, buy rating maintained
Invest Securities published on Monday, September 28 a major revision of its target on Capgemini, lowering it from €204 to €132, a reduction of nearly 35%. The brokerage house nevertheless maintains its buy opinion, which implies an upside potential of approximately 28% compared to the current price of €103.40. This type of revision, which preserves the bullish tone while contracting the target, reflects an adjustment of valuation assumptions rather than a change in conviction regarding the group's trajectory.
On the fundamentals front, upon the publication of H1 2026 results on July 30, 2026, management had raised its growth objective at constant exchange rates for the full year to approximately +8.5% to +9.0%, signaling confidence in the business momentum for the second half. According to the consensus of surveyed analysts, the stock is trading at around 8.2 times the expected earnings for the current fiscal year, and 7.5 times those of the following fiscal year, with earnings per share growth projected at +8.2% year-over-year.
A price stuck below its three moving averages, support at €101.15 in the crosshairs
Following the turbulence of the September 24 session, Capgemini is trading at €103.40, below its three moving averages: the 20-day MA at €105.31, the 50-day MA at €104.62 and the 200-day MA at €108.82. This configuration, where the short and medium-term averages are layered above the price at distances ranging between 1.2% and 5%, reflects persistent selling pressure since the peak reached in September. The RSI at 46 remains neutral, without excess on either side, which does not signal immediate selling exhaustion.
The support at €101.15 constitutes the next technical reference point to monitor: it had already been approached in early September, when the stock had threatened the €101.70 threshold before rebounding by more than 4% following the agreement to sell its American federal subsidiary to ITC Federal. Resistance at €111.40 remains some 8% above the current price. The group is moreover actively repurchasing its own shares (€559 million acquired over twelve months, or 3.2% of market capitalization according to the latest statement of July 20, 2026), structural support that does not alter the current chart configuration.
