The Goldman Sachs Group (NYSE:GS) Price Target Raised to $1,195.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised Goldman Sachs’ price target from $1,000 to $1,195 and kept an overweight rating, implying about 10.58% upside from the current share price.
• Analyst sentiment remains mixed overall. While several firms recently lifted targets, the stock still has a consensus Hold rating with a consensus price target of $958.41.
• Goldman reported stronger-than-expected quarterly results, with EPS of $17.55 beating estimates and revenue rising 14.4% year over year, supporting the bullish outlook from some analysts.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its target price increased by equities research analysts at Wells Fargo & Company from $1,000.00 to $1,195.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has an "overweight" rating on the investment management company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 10.58% from the stock's current price.

Several other analysts have also recently commented on GS. Daiwa Securities Group upped their target price on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. Rothschild & Co Redburn lifted their target price on shares of The Goldman Sachs Group from $839.00 to $870.00 and gave the stock a "neutral" rating in a research report on Friday, April 17th. Jefferies Financial Group lowered their target price on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Dbs Bank lifted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Finally, UBS Group boosted their price target on shares of The Goldman Sachs Group from $930.00 to $940.00 in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus price target of $958.41.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $1,080.62 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group has a 12 month low of $660.78 and a 12 month high of $1,125.00. The firm has a fifty day simple moving average of $987.12 and a 200 day simple moving average of $924.38. The stock has a market capitalization of $318.79 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.44 and a beta of 1.30.

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

Insiders Place Their Bets

In other news, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group 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 sale, the insider directly owned 2,578 shares in the company, valued at $2,413,472.04. The trade was a 30.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the sale, the chief accounting officer owned 6,338 shares of the company's stock, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,681 shares of company stock worth $31,737,875 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

Institutional Trading of The Goldman Sachs Group

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

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs’ equities trading revenue is reported to be on track to top $5 billion, which would mark a new record and reinforce expectations for strong second-quarter trading results. Goldman Equities Haul to Rip Past 5 Billion Toward New Record
• Positive Sentiment: Broader financial stocks advanced in afternoon trading, suggesting a favorable sector backdrop that can help support Goldman Sachs shares. Sector Update: Financial Stocks Advance Late Afternoon
• Neutral Sentiment: Goldman Sachs analysts warned that assumptions behind the AI trade may be stretching reality, a cautious macro view that is more market commentary than a direct earnings driver. Investor assumptions about the AI trade are starting to stretch reality, Goldman Sachs says
• Neutral Sentiment: Goldman also cut its U.S. recession probability to 15% after easing Iran-related tensions, which is constructive for the economic outlook but not an immediate catalyst for GS shares. Goldman cuts U.S. recession risk to 15% after Iran deal
• Negative Sentiment: A separate report said Goldman Sachs stock slipped despite strong equity activity, indicating traders may be taking profits or looking past the trading-business strength for now. Goldman Sachs Stock GS Slips Despite Reports of Strong Equity Activity

The Goldman Sachs Group Company Profile

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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