JPM

JPMorgan Chase

$351.79

+0.27%
Jul 31, 2026
Bobby Quantitative Model
JPMorgan Chase & Co. is a leading global financial services firm operating in 66 countries, offering a diversified range of services including consumer and community banking, commercial and investment banking, and asset and wealth management. As the largest bank in the U.S. by assets, it holds a dominant market position with a $4.9 trillion balance sheet, over 5,000 branches, and top-ranked investment banking fees globally. The current investor narrative centers on record quarterly profits driven by strong net interest income and investment banking activity, but also on concerns about sustainability as CEO Jamie Dimon cautions that one-time gains may not be repeatable, and the Fed's hawkish stance on inflation could pressure future earnings. The stock has rallied to near its 52-week high, reflecting optimism about the bank's earnings power and capital strength, though valuation debates persist amid elevated market expectations.

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JPM 12-Month Price Forecast

Historical Price
Current Price $351.79
Average Target $351.79
High Target $404.56
Low Target $299.02

Wall Street consensus

Most Wall Street analysts maintain a constructive view on JPMorgan Chase's 12-month outlook, with a consensus price target around $371.85 and implied upside of +5.7% versus the current price.

Average Target

$371.85

0 analysts

Implied Upside

+5.7%

vs. current price

Analyst Count

covering this stock

Price Range

$305 - $420

Analyst target range

JPMorgan is covered by 20 analysts, with a consensus recommendation of 'Buy' (mean rating 2.09 on a 1-5 scale where 1 is Strong Buy). The average price target is $371.85, implying a 5.7% upside from the current price of $351.79. The distribution shows a bullish tilt, with 12 Buy/Outperform ratings, 6 Hold/Neutral, and 2 Sell, indicating overall positive sentiment but with some caution. The target range spans from $305 (low) to $420 (high), reflecting a wide dispersion of expectations. The high target of $420 assumes continued strong earnings growth and multiple expansion, while the low target of $305 prices in a potential economic downturn or margin compression. Recent ratings actions have been predominantly reaffirmations of positive stances (e.g., RBC Capital Outperform, Wells Fargo Overweight), with no downgrades, suggesting analysts remain confident in JPM's near-term prospects despite macro uncertainties.

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JPM Technical Analysis

JPMorgan's stock is in a clear uptrend, with a 1-year price change of +18.75% and the current price of $351.79 sitting at 97.9% of its 52-week range (low $279.10, high $359.30). This positioning near the highs indicates strong momentum and investor confidence, though it also suggests the stock may be overextended in the short term. The stock has outperformed the S&P 500 over the past year (18.75% vs. 18.19%), but relative strength has been particularly strong over the last 3 months (8.92% vs. 3.66% for SPY), highlighting JPM's leadership in the financial sector.

Beta

0.98

0.98x market volatility

Max Drawdown

-15.5%

Largest decline past year

52-Week Range

$279-$359

Price range past year

Annual Return

+18.8%

Cumulative gain past year

PeriodJPM ReturnS&P 500
1m+5.3%+0.3%
3m+12.6%+4.0%
6m+15.0%+8.3%
1y+18.8%+20.2%
ytd+8.1%+9.6%

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JPM Fundamental Analysis

JPMorgan's revenue trajectory is robust, with Q2 2026 revenue of $82.46 billion, up 17.94% year-over-year, and a clear acceleration from prior quarters: Q1 2026 revenue was $73.66 billion, Q4 2025 was $69.61 billion, and Q3 2025 was $71.90 billion. The growth is broad-based, with Consumer & Community Banking contributing $19.40 billion and Commercial & Investment Bank $19.38 billion in Q2, while Asset & Wealth Management added $6.52 billion. This accelerating growth is driven by higher net interest income and strong investment banking fees, positioning the bank well for continued earnings expansion.

Quarterly Revenue

$82.5B

2026-06

Revenue YoY Growth

+17.9%

YoY Comparison

Gross Margin

66.5%

Latest Quarter

Free Cash Flow

$140.9B

Last 12 Months

Revenue & Net Income Trends (2 Years)

Revenue Breakdown

Segment Reconciling Items
Asset and Wealth Management Segment
Commercial And Investment Bank
Consumer & Community Banking
Segment Reporting, Reconciling Item, Corporate Nonsegment

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Valuation Analysis: Is JPM Overvalued?

Given JPMorgan's positive net income, the PE ratio is the primary valuation metric. The trailing PE is 16.04x, while the forward PE is 14.19x, indicating the market expects earnings growth of about 13% over the next year. This forward discount suggests optimism about continued profit expansion, but the PEG ratio of 10.58x is elevated, implying that growth is already priced in. Compared to the industry average PE of 15x (based on sector data), JPM trades at a slight premium of 7%, which is justified by its superior profitability and market leadership. Historically, JPM's trailing PE has ranged from 7.64x to 17.40x over the past three years, and the current 16.04x is near the upper end of that band, suggesting the stock is not cheap but reflects strong fundamentals.

PE

16.0x

Latest Quarter

vs. Historical

High-End

5-Year PE Range 8x~17x

vs. Industry Avg

N/A

Industry PE ~N/A*

EV/EBITDA

18.4x

Enterprise Value Multiple