RBC Capital analyst Jon Arfstrom maintained a Buy rating on American Express yesterday and set a price target of $415.00.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
According to TipRanks, Arfstrom is a 5-star analyst with an average return of 15.8% and a 62.13% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Bread Financial Holdings, Associated Banc-Corp, and First Horizon.
In addition to RBC Capital, American Express also received a Buy from Bank of America Securities’s Mihir Bhatia in a report issued on July 9. However, on July 7, Barclays maintained a Hold rating on American Express (NYSE: AXP).
Based on American Express’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $20.88 billion and a net profit of $2.97 billion. In comparison, last year the company earned a revenue of $18.93 billion and had a net profit of $2.58 billion
Based on the recent corporate insider activity of 66 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. Last month, Glenda Mcneal, the Chief Partner Officer of AXP sold 7,033.00 shares for a total of $2,386,718.88.
