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

The Goldman Sachs Group (NYSE:GS) had its target price upped by research analysts at Bank of America from $1,150.00 to $1,300.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the investment management company’s stock. Bank of America‘s price target would indicate a potential upside of 21.92% from the stock’s current price.

Several other analysts also recently weighed in on GS. Morgan Stanley set a $1,145.00 target price on The Goldman Sachs Group in a research note on Wednesday. BNP Paribas Exane cut their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a report on Monday, April 13th. Weiss Ratings upgraded The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $1,061.43.

The Goldman Sachs Group Trading Down 2.7%

NYSE GS opened at $1,066.28 on Thursday. The stock has a market cap of $314.56 billion, a P/E ratio of 16.46, a PEG ratio of 1.24 and a beta of 1.30. The company’s fifty day simple moving average is $1,035.20 and its 200-day simple moving average is $945.44. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 2.83. The Goldman Sachs Group has a 52 week low of $691.88 and a 52 week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The business had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same period last year, the business earned $10.91 EPS. The business’s revenue was up 39.4% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group will post 64.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the completion of the transaction, the insider owned 2,578 shares in the company, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,566 shares of company stock valued at $30,712,978. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors have recently bought and sold shares of GS. Vanguard Group Inc. increased its stake in The Goldman Sachs Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock valued at $25,503,685,000 after buying an additional 418,820 shares during the period. State Street Corp lifted its stake in shares of The Goldman Sachs Group by 2.1% in the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after acquiring an additional 394,198 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of The Goldman Sachs Group by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock valued at $5,952,199,000 after acquiring an additional 110,134 shares in the last quarter. Geode Capital Management LLC boosted its stake in The Goldman Sachs Group by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock valued at $5,896,795,000 after buying an additional 45,266 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of The Goldman Sachs Group by 8.0% in the 1st quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock worth $5,460,875,000 after purchasing an additional 476,977 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.