Founded in 1799, JPMorgan Chase & Co. is a multinational American finance company. It’s the world’s largest bank by market capitalisation and offers commercial, investment and private banking services. It also has a retail banking and credit card division in the U.S. and the UK.
Learn more about JPMorgan’s fiscal third-quarter 2024 performance and what analysts are forecasting for the stock.
| Stock: | JPMorgan Chase & Co. |
| Symbol for Invest.MT5 Account: | JPM |
| Date of Idea: | 15 October 2024 |
| Time Line: | 1 – 6 months |
| Entry Level: | $226.00 |
| Target Level: | $257.00 |
| Position Size for Invest.MT5 Account: | Max 5% |
| Risk: | High |
- The Invest.MT5 account allows you to buy real stocks and shares from some of the largest stock exchanges in the world.
All trading is high risk and you can lose more than you risk on a trade. Never invest more than you can afford to lose, as some trades will lose and some trades will win. Start small to understand your own risk tolerance levels or practice on a demo account first to build your knowledge before investing.
JPMorgan Fiscal Q3 2024 Performance
Here are some of the key highlights from the fiscal third-quarter 2024 earnings report from JPMorgan:
- Earnings per share of $4.37 vs $4.01 expected
- Revenue of $43.32 billion vs $41.63 billion expected
- Net income up 3% to $23.5 billion vs $22.73 billion expected
- Investment banking fees up 31% to $2.27 billion vs $2.02 billion expected
- Equities trading up 27% to $2.6 billion vs $2.41 billion expected
JPMorgan beat Wall Street estimates on most financial performance metrics. The bank raised its full-year 2024 guidance for net interest income, saying it would hit roughly $92.5 billion. Provisions for credit card losses were $3.1 billion, higher than the $2.9 billion expected. However, CFO Jeremy Barnum stated this was to increase the bank’s reserves due to its growing book of credit card loans and not to do with a weakening consumer.
While the quarterly earnings report was good, there are some concerns in the industry. JPMorgan has thrived since the Federal Reserve started interest rate hikes in 2022. Now that the Fed is cutting rates, some analysts are concerned about how the bank will navigate the change as its margins will be squeezed.
CEO Jamie Dimon also expressed concerns about rising geopolitical risks and regulatory efforts to force banks to hold more capital. While the stock is trading near record highs, more analysts now have a hold rating on the stock, as highlighted below.
JPMorgan Stock Forecast – What do the Analysts Say?
According to 20 analysts polled by TipRanks for an JPMorgan stock forecast in the past 3 months, there are currently 14 buy, 6 hold and 0 sell ratings on the stock. The highest price level for a JPMorgan stock forecast is $257.00 with the lowest price target at $200.00.
The average price target for a JPMorgan stock forecast is $233.01.
An Example Trading Idea for the JPMorgan Stock Price
An example trading idea for the JPMorgan share price could be as follows:
- Buy the stock on a break above $226.00 to allow for volatility.
- Target just below the highest analyst price target of $257.00.
- Keep your risk small at a maximum of 5% of your total account.
- Time Line = 1 – 6 months
- If you buy 10 JPMorgan shares:
- If target is reached = $310.00 potential profit [($257.00 – $226.00) * 10 shares].
Remember that markets go up and down and it is unlikely the share price will move up in a straight line. In fact, it may even go much further down before it rises, especially due to some of the concerns regarding the changing interest rate environment and geopolitical risks.
Be sure to exercise good risk management and always know how much you could potentially lose on a trade and the risks involved, as well as the costs.
With the Admirals Invest.MT5 account you can buy and sell US stocks with a commission from $0.02 per share. This means buying 10 shares in JPMorgan stock would result in a commission of $0.20 ($0.02 * 10 shares) for executing a per-side transaction.
However, there is a low minimum transaction fee of $1. So, the example trading idea above would result in a commission of just $1 overall.
How to Buy JPMorgan Stock in 4 Steps
With Admirals, you can buy shares with a commission of just $0.02 per share and a low minimum commission of just $1 on US stocks.
- Open an account with Admirals to access the dashboard.
- Click on Trade or Invest on one of your live or demo accounts to open the web platform.
- Search for your stock in the search window at the top.
- Input your entry, stop-loss and take profit levels in the trading ticket.
Click on the banner below to trade JPMorgan stock today ▼▼▼
Do You See the JPMorgan Stock Price Moving Differently?
Remember that all analytics and trading ideas are based on the personal view and experience of the author.
If you believe there is a higher chance JPMorgan share price will move lower, then you can also trade short from a CFD (Contracts for Difference) trading account which Admirals also provide.
The Trade.MT5 and Trade.MT4 account allows you to speculate on the price direction of stocks and shares using CFDs.
This means you can trade long and short to potentially profit from rising and falling stock prices.
INFORMATION ABOUT ANALYTICAL MATERIALS:
The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admirals investment firms operating under the Admirals trademark (hereinafter “Admirals”) Before making any investment decisions please pay close attention to the following:
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- The Analysis is prepared by an independent analyst Jitanchandra Solanki, Freelance Contributor (hereinafter “Author”) based on personal estimations.
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