Jefferies took its JPMorgan Chase [JPM] rating to the equivalent of Buy from Hold, and the price target to $152.0 from $110, in a research note dated 2021-01-07. That figure represents around a 15.51% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Morgan Stanley’s analysts downgrading the shares from “an Overweight” rating to “an Underweight” rating in a research note to investors issued in late November. Meanwhile, Keefe Bruyette had lowered its rating on JPM to “Mkt perform” from the earlier “an Outperform”, in a research note produced for clients November 19, 2020. In addition, there was an upgrade from Deutsche Bank on September 03, 2020. The rater changed JPM from “a Hold” to “a Buy”.
Is JPMorgan Chase & Co. [NYSE:JPM] a Good Buy Right Now?
It should be noted that JPM technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from JPMorgan Chase & Co.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 13.5 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 14.64 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 15.53 million shares.
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JPM Price Performance
On Wall Street, JPMorgan Chase & Co. [NYSE:JPM] finished Wednesday’s session up 4.70% at $131.55. The stock went up to $132.77 at the same session while its lowest single day price was $127.88. In the last five days, it saw a rise of about 5.23%, JPMorgan Chase & Co. shares gained by almost 3.53% since the beginning of the year. However, the share price has dropped to as low as -6.54% below its one year high. On 01/06/21, the company shares recorded $132.77, the highest single-day price it has got to in the last 52-weeks, and a 52-week low was seen on 01/05/21, the same year at $123.77. The company’s shares have declined by -3.19% in the past year. The 50-day SMA achieved is $116.58 while the 200-day SMA is $101.76. Volume gained to 24.91 million from 13.73 million in the previous session.
JPMorgan Chase & Co. [JPM] Valuation Measures
Notably, JPMorgan Chase & Co. [JPM] stock cannot be classified as a good candidate in the listing of underestimated low-priced Banks – Diversified companies to purchase soonest possible with the prevailing 12-month PE ratio of 17.17. The measure means the stock is exchanging at a premium as compared to the 11.75x trailing earnings of the industry. It can be helpful for investors to consider the historical price-sales ratio, more specifically, a 5.66 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.42 which means JPM serve an unattractive investment opportunity compared to its competitors.
JPM Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 128.70 level, and in case of violation of this particular level, it will cause more drop to 125.84 level. On the upper level, 135.62 is still the key resistance. The stock may increase to the subsequent resistance at 133.59. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.44, implying a overbought technical stance while the MACD stands at 3.40, meaning price will increase in the next trading period. Percent R indicator moved to 8.41%, implying bullish price movement. Stochastic %K at 82.73% suggest selling the stock.
What is the short interest in JPMorgan Chase & Co.?
Short interest in the JPMorgan Chase & Co. stock has surged, increasing by 6.52 million shares to total 21.74 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 28.26 million, data from Yahoo Finance shows. The decrease of -29.99% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 0.72% of the overall float for the stock.
JPMorgan Chase & Co.’s Biggest Shareholders: Who Owns JPMorgan Chase & Co. [JPM]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 228,921,793 shares or roughly 7.51% of the outstanding JPM shares. This means their shares have increased by 11,450,156 from the 228,921,793 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, SSgA Funds Management, Inc. updated stake is worth $15,929,553,719. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -1.08% stake valued at $15,321,783,064 while Capital Research & Management Co added theirs at $8,813,777,972. During the last quarter, BlackRock Fund Advisors liquidated -1,415,846 of its shares in JPMorgan Chase & Co. while Capital Research & Management Co bought 1,923,293 shares. The Wellington Management Co. LLP’s holdings currently number 56,346,977 shares at $7412444824.35. According to the firm’s last 13F report, Geode Capital Management LLC shares in the company at filing stood at 43,914,174 shares, roughly $5,176,602,831.
JPM Earnings Forecast For The Current Quarter
JPMorgan Chase & Co. [JPM] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $28.34B and an earnings per share of $2.54 for Dec 2020. Looking further ahead, the company is expected to report revenue of $28.62B at an EPS of $2.38 for Mar 2021. The estimates represent downside of -5.40% and 22.72% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
JPM Earnings Estimates For The Current Year
For the financial year, JPMorgan Chase & Co. [NYSE:JPM] is expected to bring in revenue of $120.09B. The returns are nearly $1.4 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 7.65, lower than that of FY19 by -$3.07. Estimates put this year’s earnings growth at -28.60%, 22.50% for the next, and at an annual -0.64% over the next 5-year period. As for sales, forecasts are for an increase of 1.20% in the current fiscal year and a further -5.40% over the following year.