The Goldman Sachs Group (NYSE:GS) Price Target Raised to $970.00

Key Points

• JPMorgan raised Goldman Sachs’ price target to $970 from $955 while maintaining a neutral rating, implying approximately 8.28% upside from the reported share price.
• Analyst sentiment remains mixed: Goldman has a consensus “Hold” rating and an average price target of $1,051.23, with targets ranging from $920 to $1,300.
• Goldman reported a strong quarter, earning $17.01 per share versus the $12.86 estimate and generating $18.68 billion in revenue, up 23% year over year.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $955.00 to $970.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the investment management company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 8.28% from the stock's current price.

A number of other analysts have also commented on GS. Rothschild & Co Redburn upped their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Bank of America upped their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Oppenheimer lowered shares of The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a research note on Tuesday, June 30th. Wells Fargo & Company lowered their price objective on shares of The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an "overweight" rating on the stock in a research report on Friday, September 25th. Finally, Jefferies Financial Group set a $1,299.00 price objective on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $1,051.23.

The Goldman Sachs Group Price Performance

Shares of GS traded up $4.53 during trading hours on Friday, hitting $895.81. 677,646 shares of the company were exchanged, compared to its average volume of 2,213,132. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.10 and a quick ratio of 0.63. The company has a market capitalization of $260.83 billion, a PE ratio of 12.88, a PEG ratio of 0.97 and a beta of 1.29. The firm has a fifty day simple moving average of $977.91 and a 200-day simple moving average of $990.11. The Goldman Sachs Group has a one year low of $740.01 and a one year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating the consensus estimate of $12.86 by $4.15. The business had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The Goldman Sachs Group's revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business posted $12.25 earnings per share. As a group, sell-side analysts predict that The Goldman Sachs Group will post 67.48 earnings per share for the current year.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Turim 21 Investimentos Ltda. acquired a new stake in The Goldman Sachs Group during the first quarter valued at $25,000. Strive Financial Group LLC grew its stake in The Goldman Sachs Group by 316.7% in the second quarter. Strive Financial Group LLC now owns 25 shares of the investment management company's stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. BOK Financial Private Wealth Inc. increased its position in The Goldman Sachs Group by 188.9% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company's stock worth $26,000 after purchasing an additional 17 shares during the last quarter. Steph & Co. acquired a new position in The Goldman Sachs Group in the 1st quarter worth about $27,000. Finally, Cherry Tree Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 100.0% during the 3rd quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company's stock worth $27,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Key Headlines Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs reported third-quarter earnings of $17.01 per share versus the $12.86 consensus estimate, while revenue reached $18.68 billion against expectations of $16.83 billion. Revenue increased 23% year over year, driven by strong equities trading and investment-banking fees. Wall Street earnings article
• Positive Sentiment: TD Cowen initiated coverage of GS with a Buy rating, adding a new constructive analyst view after the earnings release. TD Cowen coverage article
• Positive Sentiment: Management said capital-markets activity remains strong and described the underlying economy as resilient. Goldman also declared a $5 quarterly dividend, reinforcing shareholder returns. Goldman CEO comments
• Neutral Sentiment: Goldman Sachs is acting as a book-running manager for City Therapeutics’ upsized $200 million IPO. The deal may generate fees and highlights continued investment-banking activity, but its direct financial impact on GS is likely limited. City Therapeutics IPO article
• Negative Sentiment: Several firms lowered their expectations after the earnings report. Citigroup cut its price target from $1,050 to $1,000 and retained a Neutral rating; RBC also reduced its target, while another report cited a downgrade. Citigroup target-cut article
• Negative Sentiment: Hotter inflation and expectations for higher interest rates have pressured financial stocks. CEO David Solomon warned that abrupt rate movements could create headwinds, while the unwinding of AI-related trades has increased hedge-fund and market volatility. Market reaction article

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.

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