Morgan Stanley Increases The Goldman Sachs Group (NYSE:GS) Price Target to $715.00

The Goldman Sachs Group (NYSE:GS) had its price target hoisted by equities research analysts at Morgan Stanley from $680.00 to $715.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the investment management company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 0.94% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Hsbc Global Res lowered The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Daiwa America lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Barclays cut their price target on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $649.29.

The Goldman Sachs Group Stock Up 0.3%

Shares of NYSE:GS opened at $708.31 on Thursday. The firm has a fifty day moving average of $647.01 and a 200 day moving average of $600.89. The Goldman Sachs Group has a 52-week low of $437.37 and a 52-week high of $726.00. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12. The firm has a market capitalization of $217.34 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.95 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $8.62 EPS. As a group, research analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Institutional Trading of The Goldman Sachs Group

Several hedge funds and other institutional investors have recently made changes to their positions in GS. Brighton Jones LLC lifted its holdings in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after acquiring an additional 58 shares during the period. Bank Pictet & Cie Europe AG bought a new position in The Goldman Sachs Group during the 4th quarter valued at about $583,000. Highview Capital Management LLC DE boosted its holdings in shares of The Goldman Sachs Group by 4.7% during the 4th quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company’s stock valued at $2,186,000 after acquiring an additional 171 shares during the last quarter. Finally, Brooklyn FI LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter worth approximately $844,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.