American Express Company (AXP) has had a mixed sail in Q1 2024, experiencing a 22% rise at the same time showing signs of underperformance when compared to its competitors. Despite a market slip, the company saw an increase with new stakes bought in by institutions such as Proathlete Wealth Management LLC and GLOBALT Investments LLC GA, showing a 64% ownership of shares dominated by institutions. The finance giant has over the past year seen a rise of up to 36% and received a consensus recommendation of 'Hold' from analysts. While it surpasses profit estimates, it has faced a decline in the market. AXP's current strategy is paying off as they continue to benefit from a continued shift to electronic and digital payments, leading to their sixth consecutive quarter of record revenue. Their stock continues to hold promise for a long term outlook despite a few instances of underperformance and slight market slips. It is crucial to mention the robust spending leading to the company's third-quarter profit topping estimates.
American Express Company AXP News Analytics from Fri, 20 Oct 2023 07:00:00 GMT to Sun, 16 Jun 2024 11:29:52 GMT -
Rating 5
- Innovation -3
- Information 8
- Rumor 1
