American Express Levels Up Restaurant Game: Tock and Rooam Acquisitions Boost Network
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 21 2024
0mins
Should l Buy AXP?
Source: Benzinga
- American Express Acquires Tock: American Express agrees to buy Tock, a technology company specializing in reservation and event management solutions, from Squarespace for $400 million.
- Tock's Services: Tock offers reservation, table management, and event ticketing tools to around 7,000 restaurants, wineries, and bookable venues.
- Collaboration with Squarespace: American Express and Squarespace will work together to enhance benefits for small businesses using Amex Cards, including leveraging the Amex Offers program.
- Additional Acquisition: American Express also announces the acquisition of Rooam, a mobile payments technology firm for restaurants and entertainment venues.
- Statements from American Express Executives: Executives from American Express highlight the aim to connect premium customers with restaurants, provide more technology for businesses, and improve customer experiences.
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Analyst Views on AXP
Wall Street analysts forecast AXP stock price to rise
21 Analyst Rating
8 Buy
12 Hold
1 Sell
Moderate Buy
Current: 329.790
Low
280.00
Averages
379.06
High
425.00
Current: 329.790
Low
280.00
Averages
379.06
High
425.00
About AXP
American Express Company is a global payments and premium lifestyle brand powered by technology. Its card-issuing, merchant-acquiring and card network businesses offer products and services to a broad range of customers, including consumers, small businesses, mid-sized companies and large corporations around the world. Its range of products and services includes credit and charge cards and complementary products and services, including travel, dining, lifestyle and expense management products and services; banking and other payment and financing products and services, including deposits and non-card lending; merchant acquisition and processing, servicing and settlement, fraud prevention, and point-of-sale marketing and information products and services, and network services. These products and services are offered through various channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party service providers, and business partners.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Analyst Optimism: Over the past 30 days, analysts covering American Express have made the majority of upward revisions to revenue estimates, indicating increased confidence in the company's future performance, which may attract more investor interest.
- Peer Performance: In the consumer finance sector, competitors Synchrony Financial and Capital One reported mixed results, with Synchrony posting flat revenue while Capital One saw a 52.3% increase, providing important market context that could influence investor confidence in American Express.
- Stock Price Movement: American Express shares have risen 9.7% over the past month, while the overall consumer finance sector has increased by 11.8%, suggesting a positive market attitude towards the upcoming earnings report, with analysts setting a price target of $356.15, indicating significant upside potential from the current price of $331.14.
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- Enhanced Fan Experience: As the official payments partner for the 2026 NFL Draft, American Express is set to reshape fan experiences in Pittsburgh, attracting numerous Card Members and fans, thereby enhancing brand visibility and engagement.
- Exclusive Member Services: The American Express Card Member Lounge at Acrisure Stadium will offer Platinum Card Members customized merchandise, curated food and beverages, and special guest interactions with NFL players, which is expected to boost customer loyalty and satisfaction.
- Rich Draft Activities: Within the NFL Draft Experience, fans can create personalized 'Draft Fan Profiles' and engage in live activities, likely increasing brand interaction with consumers and solidifying market presence.
- Global Promotion Strategy: American Express plans to enhance brand exposure during the NFL Draft through social media and advertising, while offering limited-time discounts at NFLShop.com for Card Members, aiming to expand its customer base and increase sales.
See More
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See More
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- Long-Term Growth Guidance: CEO Stephen Squeri provided 2026 guidance during the Q4 earnings call, forecasting 9% to 10% revenue growth and EPS between $17.30 and $17.90, indicating strong confidence in future growth prospects.
- Stock Performance: Despite Wall Street analysts rating the stock as a Buy, AXP has declined over 10% this year, underperforming the S&P 500's 3.2% gain, reflecting market concerns about near-term risks.
- Robust Capital Allocation: American Express maintains a 34% return on equity and strong buyback programs, alongside a 16% dividend increase, showcasing its capacity for long-term compounding growth despite facing near-term spending pressures.
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- Holding Adjustments: During the same period, Giverny Capital fully exited its position in Ametek (NYSE:AME), suggesting a cautious outlook on the company's prospects or a strategic reallocation of funds to pursue higher returns.
- Market Dynamics: Key deals this week include American Express, Otis, Vertiv, and Wipro, highlighting market interest in these companies, which may influence investor decisions and overall market sentiment.
See More
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- Rising Energy Price Concerns: Approximately two-thirds of S&P 500 companies have expressed concerns about energy prices in their earnings calls since April, a significant increase from 17% in the January-March period, highlighting the potential economic impact of high oil prices.
- Cautious Corporate Outlook: GE Aerospace's CEO indicated that the company could have raised its forecast if not for current uncertainties, reflecting concerns in the airline industry about maintenance and spending cuts, which led to a 6% drop in GE's stock price.
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