The Goldman Sachs Group Issues Positive Forecast for JPMorgan Chase & Co. (NYSE:JPM) Stock Price

Key Points

• The Goldman Sachs Group raised its price target for JPMorgan Chase & Co. from $336.00 to $350.00, suggesting a potential upside of 12.94% from the current stock price while maintaining a "buy" rating.
• While Goldman Sachs is optimistic, other analysts have issued lower ratings, with Baird R W downgrading the stock to "strong sell" and HSBC setting a price target of $259.00.
• JPMorgan Chase reported earnings of $4.96 per share for the latest quarter, exceeding expectations by $0.48, but experienced a year-over-year revenue decline of 10.5% to $44.91 billion.

JPMorgan Chase & Co. (NYSE:JPM) had its price target lifted by investment analysts at The Goldman Sachs Group from $336.00 to $350.00 in a research note issued to investors on Friday,MarketScreener reports. The firm presently has a "buy" rating on the financial services provider's stock. The Goldman Sachs Group's price objective suggests a potential upside of 12.94% from the stock's current price.

Several other equities analysts have also commented on the stock. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. HSBC reiterated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $307.70.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $309.89 on Friday. The firm has a fifty day simple moving average of $300.67 and a 200-day simple moving average of $274.48. The company has a market capitalization of $852.11 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.47% of the company's stock.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently modified their holdings of JPM. Florida Financial Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Crown Wealth Group LLC increased its stake in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 222 shares during the period. Mosaic Financial Group LLC grew its position in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after buying an additional 78 shares during the period. Morse Asset Management Inc raised its stake in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after buying an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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