Ipsos stock drops more than 11% in one month, support level at €34.56 under threat

Ipsos below its three moving averages, support at €34.56 in the crosshairs

Ipsos is down 2.02% at €34.94 during trading, while the SBF 120 retreats 0.58%. The stock is trading below its 20-day moving average (€35.74), below its 50-day moving average (€37.77) and below its 200-day moving average (€35.78), three moving averages that form a diffuse resistance zone above the current price. The RSI at 46 remains neutral, with no marked signals of selling exhaustion, which leaves the door open for a test of the €34.56 support level if the decline continues.

This level had already served as support during the sell-off on September 4, when the stock fell more than 5% to finish as the worst performer of the SBF 120. Over one month, the decline now stands at 11.32%, a slide that brings the price back to contact with its recent lows.

Horizons plan reaffirmed, buyback program partially executed

On the operational side, the context has not changed since the investor presentation on September 14, when Chief Executive Officer Kelly Beaver confirmed the Horizons strategic plan and set accelerated implementation as a priority. The share buyback program, announced in July at €57 million, had been executed at approximately 44% as of September 18 (€25 million repurchased), which represents partial mechanical support for the stock price. Over twelve months, the group has repurchased €88 million of its own shares, representing nearly 5.8% of its market capitalization.

According to the consensus of analysts tracked, the stock is valued at approximately 6.7 times expected earnings for the current fiscal year, with earnings per share growth anticipated at +8.3% for the following year. The support level at €34.56 remains the immediate reference level for the remainder of the session.