Ipsos experienced disappointing activity in the first quarter of the year, with a 2.4% decrease in revenue, totaling 554.9 million euros. Despite this setback, the group remains confident in its annual outlook and retains its forecasted figures from February.
The decline was mainly attributed to the American market, which saw a 4.1% recession, while the Asia-Pacific and EMEA (Europe, Middle East, Africa) regions remained steady at 0.2% and 0.1%, respectively. As a result, Ipsos’ shares plummeted by 15.30% on April 17, making it one of the top losers in the SBF 120.
However, there are positive aspects to Ipsos’ performance. The company noted a positive trend in commercial activity, particularly in the public sector in the US and France, as well as improvements in client relations and consumption in China. Ipsos emphasized that the March orders translate to future revenue growth.
Despite the disappointing first quarter results, Ipsos remains optimistic about its future and maintains its 2026 forecasts. The company’s strategic plan “Horizon 2030” aims to revive growth through significant investments and acquisitions over the next five years, with the target of achieving 5% comparable growth by 2030.
Oddo BHF views Ipsos as having strong fundamentals and recommends a target price of 50 euros. The company also addressed tensions in the Middle East, noting a localized slowdown without impacting its annual forecasts.
By Sabrina Sadgui – ©2026 BFM Bourse
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