UBS reiterates its Neutral rating on the stock with an unchanged price target of 36.7 euros following the earnings release.
The analyst considers the first-quarter results disappointing despite a slight improvement in momentum.
UBS notes that order book dynamics and growth in China are improving, but Q1 sales fell short of expectations, while weakness in the U.S. market weighs on short-term visibility.
Ipsos confirmed its targets for the 2026 fiscal year. The group expects organic growth of between 2% and 3%, with an operating margin stable compared to 2025.
Ipsos is one of the world's leading market research companies. Net sales break down by type of customer as follows:
- consumers (49.3%): dissemination of barometric studies (to monitor changes in brand awareness and image), studies to measure the effectiveness of advertising campaigns, market studies, etc. The group also provides media research (including positioning research and audience measurement research for the press, TV, radio and Internet);
- clients and employees (20.5%): including the development of recruitment site studies, employee engagement measures, quality measurement, customer satisfaction and retention;
- citizens (15.4%): dissemination of studies of public opinion trends, studies of changes in lifestyles, etc.;
- physicians and patients (14.8%): development of case studies of the physician network, customer segmentation and targeting, market evaluation, sales force effectiveness, patient flow and satisfaction, etc.
Net sales are distributed geographically as follows: Europe/Middle East/Africa (49.3%), Americas (35.2%) and Asia/Pacific (15.5%).
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ESG MSCI
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