Dassault Systèmes shares, last-placed in the CAC 40, fall 3% after upgraded Q3 figures
Shares of the 3D software publisher fell sharply early in the afternoon, while the CAC 40 remained nearly stable. The stock ranks last in the index after a strong month-long rebound.
Last place in the CAC 40 after a marked rebound over the month
Shares of Dassault Systèmes fell 3.2% to €24.80, the largest decline in the Paris index, which lost 0.06% at the same time. Monday's session had nonetheless been favorable for the stock: the S&P 500 gained 0.78% and the Dow Jones 1.02%.
Today's decline follows a series of upgrades. The stock had risen 3.5% last Thursday, boosted by two price target revisions from brokerage firms. It still shows a gain of 20.2% over one month, compared with 0.7% over one year. Analyst opinions are to be watched for the stock following these revisions.
Third-quarter results and the technical indicators for the stock
The third-quarter results, published on October 28, showed revenue of €1.55 billion (+5% at constant exchange rates) and a non-IFRS operating margin of 31.6%. Analysts had expected €1.52 billion. The group also finalized the acquisition of ArisGlobal for $1.8 billion.
On the chart, the decline leaves the price at €24.80, 5.4% above its 20-day moving average and 11.9% above its 50-day moving average. The RSI at 63 remains in neutral territory, and resistance at €25.62 corresponds to the previous day's close. The nearest support is at €20.49.
