Wells Fargo & Company Issues Positive Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its target price raised by stock analysts at Wells Fargo & Company from $650.00 to $785.00 in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the investment management company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 11.49% from the company's previous close.

Other equities analysts have also issued reports about the company. Barclays cut their price objective on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Citigroup cut their price objective on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Wall Street Zen lowered The Goldman Sachs Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Daiwa Capital Markets lowered The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target on the stock. in a research note on Friday, April 4th. Finally, Daiwa America lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $614.00.

The Goldman Sachs Group Trading Down 0.7%

Shares of The Goldman Sachs Group stock traded down $5.01 during midday trading on Tuesday, reaching $704.11. The company had a trading volume of 1,681,679 shares, compared to its average volume of 2,390,272. The stock has a fifty day moving average price of $632.13 and a 200 day moving average price of $596.39. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $216.05 billion, a PE ratio of 16.34, a P/E/G ratio of 0.97 and a beta of 1.35. The Goldman Sachs Group has a fifty-two week low of $437.37 and a fifty-two week high of $726.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same period in the previous year, the firm earned $11.58 earnings per share. On average, equities analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director John B. Hess acquired 3,904 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were purchased at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the purchase, the director owned 3,904 shares of the company's stock, valued at approximately $1,997,598.72. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group in the first quarter valued at $25,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group in the first quarter valued at $29,000. Curio Wealth LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $30,000. Godsey & Gibb Inc. lifted its stake in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after buying an additional 34 shares in the last quarter. Finally, Transce3nd LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $31,000. 71.21% of the stock is owned by institutional investors.

About The Goldman Sachs Group

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.