Oppenheimer analyst Dominick Gabriele assigned a Buy rating to American Express (AXP – Research Report) yesterday and set a price target of $165.00. The company’s shares closed last Monday at $156.86, close to its 52-week high of $160.69.
According to TipRanks.com, Gabriele is a 4-star analyst with an average return of 19.0% and a 63.4% success rate. Gabriele covers the Financial sector, focusing on stocks such as Discover Financial Services, Capital One Financial, and Synchrony Financial.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Express with a $155.90 average price target, a -0.7% downside from current levels. In a report issued on May 7, Wells Fargo also maintained a Buy rating on the stock.
Based on American Express’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $9.12 billion and net profit of $2.24 billion. In comparison, last year the company earned revenue of $9.87 billion and had a net profit of $367 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AXP in relation to earlier this year. Most recently, in March 2021, Douglas Buckminster, the Grp Pres, Glb Consumer Svcs of AXP sold 32,833 shares for a total of $4,796,344.
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Founded in 1850, American Express Co. is a financial services corporation which provides charge and credit card products, as well as travel-related services worldwide. The company operates through the Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.