American Express Company [AXP] moved down -2.92: Why It’s Important

American Express Company [NYSE: AXP] loss -2.92% or -4.19 points to close at $139.31 with a heavy trading volume of 3958614 shares. The company report on November 1, 2022 that American Express Travel’s 2023 Trending Destinations Unveils Top Trips for Every Type of Traveler.

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Copenhagen, the Florida Keys, Istanbul, Lisbon and Mexico City are among the top places to visit.

American Express Travel, today, published the 2023 Trending Destinations list1, featuring the ten most popular destinations for travel next year, identified by global American Express Card® Member travel reservations. For each of these destinations, American Express Travel Consultants also created three-day itineraries, providing inspiration on the top places to stay, eat, shop and explore the local culture, including how Platinum Card® Members can spend the “bonus vacation day” they receive with guaranteed 4:00 p.m. check-out when they book a Fine Hotels + Resorts® property through American Express Travel.

It opened the trading session at $141.09, the shares rose to $142.20 and dropped to $138.77, the range by which the price of stock traded the whole day. The daily chart for AXP points out that the company has recorded -18.54% loss over the past six months. However, it is still -6.63% lower than its most recent low trading price.

If we look at the average trading volume of 3.04M shares, AXP reached to a volume of 3958614 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about American Express Company [AXP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AXP shares is $168.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AXP stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for American Express Company shares, keeping their opinion on the stock as Sell, with their previous recommendation back on October 13, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $223 to $143. The new note on the price target was released on July 12, 2022, representing the official price target for American Express Company stock. Previously, the target price had yet another raise to $175, while Robert W. Baird analysts kept a Outperform rating on AXP stock.

The Average True Range (ATR) for American Express Company is set at 4.79, with the Price to Sales ratio for AXP stock in the period of the last 12 months amounting to 1.97. The Price to Book ratio for the last quarter was 4.35, with the Price to Cash per share for the same quarter was set at 39.48. Price to Free Cash Flow for AXP in the course of the last twelve months was 7.11.

Trading performance analysis for AXP stock

American Express Company [AXP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.21. With this latest performance, AXP shares dropped by -3.50% in over the last four-week period, additionally sinking by -18.54% over the last 6 months – not to mention a drop of -19.29% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AXP stock in for the last two-week period is set at 42.55, with the RSI for the last a single of trading hit 38.62, and the three-weeks RSI is set at 43.97 for American Express Company [AXP]. The present Moving Average for the last 50 days of trading for this stock 146.66, while it was recorded at 145.76 for the last single week of trading, and 162.49 for the last 200 days.

American Express Company [AXP]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AXP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for American Express Company go to 7.50%.

An analysis of insider ownership at American Express Company [AXP]

There are presently around $88,870 million, or 86.80% of AXP stock, in the hands of institutional investors. The top three institutional holders of AXP stocks are: BERKSHIRE HATHAWAY INC with ownership of 151,610,700, which is approximately 0% of the company’s market cap and around 0.13% of the total institutional ownership; VANGUARD GROUP INC, holding 46,917,849 shares of the stock with an approximate value of $6.54 billion in AXP stocks shares; and BLACKROCK INC., currently with $6.11 billion in AXP stock with ownership of nearly -1.416% of the company’s market capitalization.

Positions in American Express Company stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 810 institutional holders increased their position in American Express Company [NYSE:AXP] by around 28,835,272 shares. Additionally, 891 investors decreased positions by around 30,187,481 shares, while 383 investors held positions by with 578,903,644 shares. The mentioned changes placed institutional holdings at 637,926,397 shares, according to the latest SEC report filing. AXP stock had 111 new institutional investments in for a total of 4,062,862 shares, while 131 institutional investors sold positions of 2,589,443 shares during the same period.


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