why American Express Company [AXP] is a Good Choice for Investors After New Price Target of $168.38

American Express Company [NYSE: AXP] plunged by -$1.93 during the normal trading session on Thursday and reaching a high of $151.062 during the day while it closed the day at $150.64. The company report on November 16, 2022 that American Express and Square Partner to Create First Credit Card for Square Sellers.

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Expanding Square’s suite of financial services offerings, forthcoming Square Credit Card will run on the American Express network, deepening the two companies’ ties and commitment to empowering small businesses.

American Express (NYSE: AXP) and Square announced an expansion of their relationship and plans to launch a new credit card built specifically for Square sellers on the American Express network.

American Express Company stock has also loss -2.66% of its value over the past 7 days. However, AXP stock has declined by -7.15% in the 3 months of the year. Over the past six months meanwhile, it has lost -2.18% and lost -7.92% year-on date.

The market cap for AXP stock reached $112.46 billion, with 748.00 million shares outstanding and 743.64 million shares in the current float. Compared to the average trading volume of 3.17M shares, AXP reached a trading volume of 2753794 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $168.38 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 5.00, with the Price to Sales ratio for AXP stock in the period of the last 12 months amounting to 2.18. The Price to Book ratio for the last quarter was 4.71, with the Price to Cash per share for the same quarter was set at 38.60. Price to Free Cash Flow for AXP in the course of the last twelve months was 7.86.

AXP stock trade performance evaluation

American Express Company [AXP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.66. With this latest performance, AXP shares gained by 4.63% in over the last four-week period, additionally sinking by -2.18% over the last 6 months – not to mention a drop of -16.13% 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 53.80, with the RSI for the last a single of trading hit 53.42, and the three-weeks RSI is set at 52.92 for American Express Company [AXP]. The present Moving Average for the last 50 days of trading for this stock 146.12, while it was recorded at 153.22 for the last single week of trading, and 161.41 for the last 200 days.

Earnings per share (EPS) analysis for American Express Company [AXP] stock

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%.

American Express Company [AXP]: Insider Ownership positions

There are presently around $95,349 million, or 86.60% 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 47,021,415 shares of the stock with an approximate value of $7.08 billion in AXP stocks shares; and BLACKROCK INC., currently with $6.71 billion in AXP stock with ownership of nearly 1.517% 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 828 institutional holders increased their position in American Express Company [NYSE:AXP] by around 22,166,222 shares. Additionally, 842 investors decreased positions by around 25,642,352 shares, while 378 investors held positions by with 585,147,650 shares. The mentioned changes placed institutional holdings at 632,956,224 shares, according to the latest SEC report filing. AXP stock had 89 new institutional investments in for a total of 2,752,835 shares, while 112 institutional investors sold positions of 1,400,074 shares during the same period.


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