JPMorgan (JPM) Stock: What to Expect from Q1 Earnings Tuesday?

TLDR

• JPMorgan reports Q1 2026 earnings on April 14, before market open
• Options traders pricing in a ~3.87% move — above the 2.71% four-quarter average
• Wall Street expects EPS of $5.45 (+7% YoY) and revenue of $49.13 billion (-8% YoY)
• Goldman Sachs raised its price target to $365 (Buy); Morgan Stanley cut to $334 (Equal Weight)
• JPM is up 8.3% over the past month but down 3% year to date

JPMorgan Chase reports Q1 2026 results on Tuesday, April 14, before the opening bell. As the first major bank to report this season, all eyes will be on what the numbers say about the health of the broader sector.

JPMorgan Chase & Co., JPM

Options traders are pricing in a move of roughly 3.87% in either direction following the release. That’s higher than JPM’s average post-earnings swing of 2.71% over the past four quarters, pointing to elevated uncertainty heading into the print.

The stock is down about 3% year to date. Concerns around AI investment costs and geopolitical tension tied to the Iran conflict have weighed on sentiment.

That said, JPM has recovered meaningfully in recent weeks. The stock is up 8.3% over the past month, roughly in line with the broader bank sector, which is up 8.5% over the same period.

What the Street Is Expecting

Wall Street is forecasting EPS of $5.45 for Q1 2026, which would mark 7% growth year over year. Revenue is expected to come in at $49.13 billion, down about 8% from the same period last year.

That revenue decline is worth watching. Last quarter, JPMorgan posted $46.77 billion in revenue — up 6.9% year over year — but missed EPS estimates.

Analysts have largely held their estimates steady over the past 30 days, suggesting no major surprises are expected going in. JPMorgan has a track record of beating Wall Street forecasts.

Analyst Targets Split Ahead of Results

Not everyone is reading the setup the same way.

Goldman Sachs analyst Richard Ramsden lifted his price target to $365 from $352 and kept a Buy rating. Goldman’s view is that bank valuations have become more attractive after the group fell around 7% this year, bringing them closer to historical norms.

Goldman flagged several things investors will be watching: net interest income guidance, how market volatility hit capital markets revenue, and whether higher energy prices are starting to show up in credit quality or loan loss provisions.

Morgan Stanley took the other side. Analyst Manan Gosalia cut his price target to $334 from $365 and kept an Equal Weight rating. The firm is trimming targets across the banking sector by about 9% on average, citing inflation, Middle East risks, and concerns around private credit.

The two targets bracket the current consensus. Across 12 Buy and 8 Hold ratings, the average Wall Street price target sits at $337.00 — implying about 8.76% upside from current levels. The overall rating is a Moderate Buy.

As the first major bank through the door this earnings season, JPMorgan’s results will set the tone for the rest of the group. The market opens at 9:30 AM ET on April 14.

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