The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, Citigroup Analyst Says

The Goldman Sachs Group (NYSE:GS) had its price target boosted by research analysts at Citigroup from $550.00 to $700.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. Citigroup’s target price suggests a potential downside of 0.15% from the company’s previous close.

Several other research analysts have also recently issued reports on GS. Royal Bank Of Canada reissued a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Hsbc Global Res cut The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $660.00.

The Goldman Sachs Group Price Performance

GS opened at $701.04 on Monday. The stock has a fifty day simple moving average of $647.01 and a two-hundred day simple moving average of $601.27. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The company has a market cap of $215.11 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.50 and a beta of 1.35. The Goldman Sachs Group has a 12-month low of $437.37 and a 12-month high of $726.00.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GS. Kingstone Capital Partners Texas LLC boosted its stake in shares of The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after buying an additional 29,053,586 shares during the last quarter. Geode Capital Management LLC boosted its position in The Goldman Sachs Group by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company’s stock worth $3,761,576,000 after purchasing an additional 161,500 shares in the last quarter. GAMMA Investing LLC grew its holdings in The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares during the period. FMR LLC grew its holdings in The Goldman Sachs Group by 23.7% in the fourth quarter. FMR LLC now owns 3,586,348 shares of the investment management company’s stock valued at $2,053,614,000 after purchasing an additional 687,711 shares during the period. Finally, Northern Trust Corp grew its holdings in The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock valued at $1,820,677,000 after purchasing an additional 40,125 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

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.