CICC Research Increases The Goldman Sachs Group (NYSE:GS) Price Target to $980.00

Key Points

• CICC Research raised its price target on Goldman Sachs from $825 to $980 and kept an outperform rating, implying modest upside from the prior close.
• Goldman Sachs’ latest quarterly results beat expectations, with EPS of $17.55 versus the $15.92 consensus and revenue of $17.23 billion versus estimates of $16.66 billion.
• Analyst sentiment is mixed overall: MarketBeat shows a Hold consensus with an average price target of $943.95, even as several firms recently adjusted their targets higher or lower.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price objective raised by equities research analysts at CICC Research from $825.00 to $980.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an "outperform" rating on the investment management company's stock. CICC Research's target price indicates a potential upside of 5.09% from the company's previous close.

GS has been the topic of a number of other research reports. Weiss Ratings downgraded shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 8th. Wells Fargo & Company cut their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,000.00 and set an "overweight" rating for the company in a research report on Monday, April 13th. Bank of America lowered their price target on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Citigroup raised their price target on The Goldman Sachs Group from $765.00 to $930.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Finally, Evercore reduced their price objective on The Goldman Sachs Group from $1,075.00 to $950.00 and set an "outperform" rating for the company in a research report on Monday, April 6th. Nine equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus price target of $943.95.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock traded down $13.87 during trading on Tuesday, hitting $932.49. 174,124 shares of the company's stock traded hands, compared to its average volume of 2,271,645. The Goldman Sachs Group has a 1 year low of $582.50 and a 1 year high of $984.70. The business has a 50-day simple moving average of $880.81 and a 200-day simple moving average of $880.02. The stock has a market capitalization of $275.10 billion, a P/E ratio of 17.03, a PEG ratio of 1.22 and a beta of 1.28. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping analysts' consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The Goldman Sachs Group's revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $14.12 EPS. As a group, analysts forecast that The Goldman Sachs Group will post 59.53 EPS for the current year.

Insider Activity

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the completion of the transaction, the insider directly owned 2,578 shares in the company, valued at $2,413,472.04. This represents a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the sale, the chief accounting officer directly owned 6,338 shares of the company's stock, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Dagco Inc. purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at about $25,000. Turim 21 Investimentos Ltda. bought a new stake in The Goldman Sachs Group during the 1st quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC lifted its holdings in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Finally, Steph & Co. bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Key Stories Impacting The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs said it still sees a “huge opportunity” despite geopolitical turmoil, with international co-heads noting clients have remained active and the firm’s outlook on deal activity and global markets remains constructive. Goldman Sachs Targets ‘Huge Opportunity’ Despite Iran Shock
• Positive Sentiment: Recent commentary highlighted Goldman’s view that AI-related stocks are increasingly acting like a defensive trade, reinforcing the firm’s influence in one of Wall Street’s strongest themes and supporting investor confidence in its market research franchise. AI Stocks Are Becoming Wall Street's New Defensive Trade As Inflation Fears Rise, Goldman Says
• Positive Sentiment: Goldman reiterated a Buy rating on Standard Chartered, signaling the firm’s continued active role in covering financials and maintaining a constructive stance on selected peers. Goldman Sachs Reiterates Buy on Standard Chartered as Long-Term Profitability Targets Signal 18% Total Return Upside
• Neutral Sentiment: Goldman’s CFO Denis Coleman sold 6,857 shares in a disclosed transaction; the move is notable, but it is a partial sale and does not on its own indicate a change in fundamentals. Denis Coleman Sells 6,857 Shares of The Goldman Sachs Group NYSE: GS Stock
• Neutral Sentiment: Recent coverage of Goldman’s AI and market commentary, plus portfolio updates in crypto-related assets, is more about the firm’s views and positioning than a direct earnings catalyst for GS shares. History says AI is likely to widen the gap between corporate giants and everyone else: Goldman Sachs

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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