American Express Company (AXP) is a favorite amongst institutional shareholders who own 65% of stock and it has rallied by 37.2% this year. However, it recently broke its winning streak snapping six sessions of gains. It's ranked highly among top digital currency and payment stocks and stands out among Mario Gabelli’s and Spier’s stock portfolios. Its Q2 earnings surpassed estimates but its Q2 revenue fell short of expectations. The share price has risen by 23% this year so far. Strong Q2 earnings have uplifted its 2024 profit forecast signaling robust spending by affluent customers. Despite its share price soaring by 29%, it looks attractive long-term. However, shares have declined while market conditions have improved. The company plans to acquire Tock from Squarespace (SQSP) and also Rooam which might impact its Q4 earnings. The company has warned of higher costs affecting its Q4 results and insiders have sold stock worth US$55m, potentially indicating caution.
American Express Company AXP News Analytics from Tue, 23 Jan 2024 08:00:00 GMT to Sat, 31 Aug 2024 13:00:20 GMT -
Rating 7
- Innovation 3
- Information 8
- Rumor -5
