BMO Capital Markets Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

Key Points

• BMO Capital Markets raised its price target on Goldman Sachs from $972 to $1,070 and kept a market perform rating, implying modest upside from the prior close.
• Goldman Sachs has seen mixed analyst sentiment overall, with a consensus rating of Hold and an average price target of $974.18, even as some firms recently lifted their targets.
• The company reported strong quarterly results, beating EPS and revenue estimates, while shares were up 1.5% and opened at $1,034.58 on Monday.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price target raised by stock analysts at BMO Capital Markets from $972.00 to $1,070.00 in a research report issued on Monday,MarketScreener reports. The firm currently has a "market perform" rating on the investment management company's stock. BMO Capital Markets' price target would suggest a potential upside of 3.42% from the company's previous close.

GS has been the subject of several other research reports. Royal Bank Of Canada restated a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Dbs Bank increased their price target on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. BNP Paribas Exane dropped their price objective on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a report on Friday, April 24th. CICC Research boosted their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 19th. Finally, Rothschild & Co Redburn raised their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a "neutral" rating in a research note on Thursday. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $974.18.

The Goldman Sachs Group Stock Up 1.5%

GS opened at $1,034.58 on Monday. The stock has a market capitalization of $305.21 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.33 and a beta of 1.30. The Goldman Sachs Group has a fifty-two week low of $691.30 and a fifty-two week high of $1,125.00. The company has a fifty day moving average of $996.38 and a two-hundred day moving average of $928.65. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The Goldman Sachs Group's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $14.12 earnings per share. On average, research analysts expect that The Goldman Sachs Group will post 59.6 earnings per share for the current year.

Insider Activity at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 6,857 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares in the company, valued at $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at $5,889,079.46. This represents a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 33,681 shares of company stock valued at $31,737,875. Insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GS. Brighton Jones LLC raised its holdings in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after buying an additional 508 shares during the period. Revolve Wealth Partners LLC boosted its stake in The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after purchasing an additional 58 shares during the period. Sivia Capital Partners LLC grew its position in The Goldman Sachs Group by 90.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company's stock worth $1,098,000 after purchasing an additional 735 shares in the last quarter. Schnieders Capital Management LLC. grew its position in The Goldman Sachs Group by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company's stock worth $581,000 after purchasing an additional 70 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of The Goldman Sachs Group by 22.2% in the second quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company's stock valued at $1,522,000 after purchasing an additional 391 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs' core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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