American Express Company (AXP) : Traders are bullish on American Express Company (AXP) as it has outperformed the S&P 500 by a wide margin of 1.56% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.26%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.23% in the last 1 week, and is up 1.94% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
American Express Company is up 3.03% in the last 3-month period. Year-to-Date the stock performance stands at -4.43%. The stock has recorded a 20-day Moving Average of 1.07% and the 50-Day Moving Average is 3.98%.
American Express Company (NYSE:AXP): The stock opened at $65.47 on Friday but the bulls could not build on the opening and the stock topped out at $65.68 for the day. The stock traded down to $65.07 during the day, due to lack of any buying support eventually closed down at $65.53 with a loss of -0.15% for the day. The stock had closed at $65.63 on the previous day. The total traded volume was 2,783,160 shares.
Also, In the latest statement by the brokerage house, Goldman Sachs maintains its outlook on American Express Company (NYSE:AXP). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $62 per share to $67 per share. The rating by the firm was issued on June 7, 2016.
American Express Company is a global services company. The Companys principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Companys segments include U.S. Card Services, International Card Services, Global Commercial Services and Global Network & Merchant Services. The Companys United States banking subsidiaries, Centurion Bank and AEBFSB, issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions. The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.