The Goldman Sachs Group (NYSE:GS) PT Raised to $370.00

Posted by Defense World Staff on Apr 21st, 2023

The Goldman Sachs Group (NYSE:GS – Get Rating) had its price objective raised by stock analysts at Evercore ISI from $360.00 to $370.00 in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage presently has an “outperform” rating on the investment management company’s stock. Evercore ISI’s price objective suggests a potential upside of 9.24% from the company’s previous close.

A number of other research analysts have also weighed in on GS. Deutsche Bank Aktiengesellschaft decreased their price objective on The Goldman Sachs Group from $370.00 to $345.00 in a report on Friday, January 6th. Odeon Capital Group upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $370.14 price objective on the stock in a report on Tuesday, January 10th. BMO Capital Markets decreased their price objective on The Goldman Sachs Group from $429.00 to $414.00 and set an “outperform” rating on the stock in a report on Wednesday. Barclays decreased their price objective on The Goldman Sachs Group from $495.00 to $437.00 and set an “overweight” rating on the stock in a report on Wednesday, April 12th. Finally, Wolfe Research lowered The Goldman Sachs Group from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $389.17.

The Goldman Sachs Group Trading Up 0.5 %

Shares of NYSE:GS opened at $338.71 on Wednesday. The Goldman Sachs Group has a 1 year low of $277.84 and a 1 year high of $389.58. The firm has a market capitalization of $113.06 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.78 and a beta of 1.41. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50 day moving average price is $337.97 and its 200-day moving average price is $346.88.

The Goldman Sachs Group (NYSE:GS – Get Rating) last announced its earnings results on Tuesday, April 18th. The investment management company reported $8.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.14 by $0.65. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $12.66 billion. The Goldman Sachs Group had a return on equity of 10.55% and a net margin of 16.39%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $10.76 EPS. On average, equities research analysts forecast that The Goldman Sachs Group will post 31.15 earnings per share for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In other news, major shareholder Goldman Sachs Group Inc sold 3,749 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $10.58, for a total transaction of $39,664.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,105,275 shares of company stock valued at $26,412,477 in the last three months. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently made changes to their positions in GS. Transamerica Financial Advisors Inc. grew its position in shares of The Goldman Sachs Group by 727.3% during the third quarter. Transamerica Financial Advisors Inc. now owns 91 shares of the investment management company’s stock worth $27,000 after buying an additional 80 shares in the last quarter. Tower View Investment Management & Research LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $27,000. Larson Financial Group LLC grew its position in shares of The Goldman Sachs Group by 224.0% during the fourth quarter. Larson Financial Group LLC now owns 81 shares of the investment management company’s stock worth $28,000 after buying an additional 56 shares in the last quarter. NewSquare Capital LLC purchased a new stake in The Goldman Sachs Group during the third quarter worth approximately $29,000. Finally, Paragon Wealth Strategies LLC purchased a new stake in The Goldman Sachs Group during the third quarter worth approximately $31,000. 69.09% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

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The Goldman Sachs Group, Inc engages in the provision of financial services. It operates through the following business segments: Global Banking and Markets, Asset and Wealth Management, and Platform Solutions. The Global Banking and Markets segment includes investment banking, equity and debt underwriting, Fixed Income, Currency, and Commodities (FICC) intermediation and financing activities, relationship lending and acquisition financing, and investing activities.