BMO Capital Markets Lowers The Goldman Sachs Group (NYSE:GS) Price Target to $414.00

Posted by Defense World Staff on Apr 21st, 2023

The Goldman Sachs Group (NYSE:GS – Get Rating) had its price target reduced by equities researchers at BMO Capital Markets from $429.00 to $414.00 in a report issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the investment management company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 22.23% from the stock’s previous close.

Several other research firms have also recently issued reports on GS. Oppenheimer lowered their target price on shares of The Goldman Sachs Group from $440.00 to $437.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wolfe Research cut shares of The Goldman Sachs Group from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 4th. JMP Securities increased their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America increased their price target on shares of The Goldman Sachs Group from $384.00 to $425.00 in a report on Thursday, March 9th. Finally, UBS Group raised shares of The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $389.17.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $338.71 on Wednesday. The stock has a market capitalization of $113.06 billion, a P/E ratio of 12.06, a PEG ratio of 0.78 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.32. The firm’s 50 day moving average is $337.97 and its 200 day moving average is $346.88. The Goldman Sachs Group has a 12 month low of $277.84 and a 12 month high of $389.58.

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

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $6.43, for a total transaction of $25,720,000.00. Following the completion of the sale, the insider now owns 17,099,784 shares of the company’s stock, valued at approximately $109,951,611.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 4,105,275 shares of company stock valued at $26,412,477 in the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently modified their holdings of GS. Fairfield Bush & CO. purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter worth about $66,000. Candriam Luxembourg S.C.A. lifted its position in shares of The Goldman Sachs Group by 1,505.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock worth $13,633,000 after purchasing an additional 38,727 shares during the period. Baird Financial Group Inc. lifted its position in shares of The Goldman Sachs Group by 18.5% in the 1st quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock worth $39,153,000 after purchasing an additional 18,540 shares during the period. Zions Bancorporation N.A. lifted its position in shares of The Goldman Sachs Group by 79.4% in the 1st quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock worth $273,000 after purchasing an additional 366 shares during the period. Finally, Covestor Ltd lifted its position in shares of The Goldman Sachs Group by 118.3% in the 1st quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock worth $102,000 after purchasing an additional 168 shares during the period. 69.09% of the stock is owned by hedge funds and other institutional investors.

About The Goldman Sachs Group

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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.