Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

Key Points

• Keefe, Bruyette & Woods has raised its price target for The Goldman Sachs Group's stock from $790 to $850, indicating a potential upside of 11.09% based on the stock's previous close.
• Analyst ratings show a mixed sentiment with five Buy ratings, fourteen Hold ratings, and one Sell rating, resulting in an average target price of $746.69.
• The Goldman Sachs Group reported quarterly earnings of $10.91 EPS, surpassing analysts' expectations and marking a 14.5% year-over-year increase in revenue.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price objective raised by Keefe, Bruyette & Woods from $790.00 to $850.00 in a research report issued on Friday,MarketScreener reports. The brokerage presently has a "market perform" rating on the investment management company's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 11.09% from the stock's previous close.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. HSBC upped their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Evercore ISI raised their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. UBS Group raised their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a "neutral" rating in a report on Tuesday, October 7th. Finally, BMO Capital Markets initiated coverage on The Goldman Sachs Group in a research report on Friday, October 3rd. They set a "market perform" rating and a $785.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and an average target price of $746.69.

The Goldman Sachs Group Price Performance

GS opened at $765.14 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The business has a fifty day moving average of $760.79 and a 200 day moving average of $662.94. The Goldman Sachs Group has a 52-week low of $439.38 and a 52-week high of $825.25. The stock has a market cap of $231.62 billion, a P/E ratio of 16.86, a PEG ratio of 1.44 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business earned $8.62 earnings per share. The Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the transaction, the chief operating officer directly owned 106,268 shares in the company, valued at $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock worth $28,111,828 over the last quarter. Company insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the 1st quarter worth about $25,000. Dogwood Wealth Management LLC lifted its stake in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after acquiring an additional 36 shares during the last quarter. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Clearstead Trust LLC acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at $31,000. Finally, Graney & King LLC lifted its position in shares of The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company's stock worth $35,000 after purchasing an additional 17 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.

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