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.
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.