JP Morgan Chase (NYSE: JPM) plans to hire around 2,000 engineers globally by the end of this year even as the economy worsens, according to a Reuters report that cited JPM’s global CIO, Lori Beer.
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According to the report, JP Morgan added around 5,000 software developers and data scientists in 2021. The report stated that tech workers currently make up approximately 20% of JPM’s 278,000 employees.
Is JPM a Buy?
Analysts are cautiously optimistic about the stock with a Moderate Buy consensus rating based on 10 Buys, six Holds, and one Sell.
The average price target for JPM stock is $137.76 with an upside potential of 29.5% at current levels.
