The Goldman Sachs Group (NYSE:GS) Stock Gets Price Target Increase from JPMorgan Chase & Co.

The Goldman Sachs Group (NYSE:GS) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $955.00 to $970.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 8.28% from the company’s current price.

GS has been the topic of a number of other research reports. Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Weiss Ratings cut shares of The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 9th. Barclays increased their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. UBS Group lowered their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Finally, Oppenheimer lowered The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,051.23.

The Goldman Sachs Group Stock Up 0.5%

NYSE GS traded up $4.53 during trading on Friday, reaching $895.81. The company’s stock had a trading volume of 677,646 shares, compared to its average volume of 2,213,132. The company has a current ratio of 1.10, a quick ratio of 0.63 and a debt-to-equity ratio of 2.82. The stock has a market capitalization of $260.83 billion, a PE ratio of 12.88, a PEG ratio of 0.97 and a beta of 1.29. The business has a 50-day moving average price of $977.91 and a 200-day moving average price of $990.11. The Goldman Sachs Group has a 1-year low of $740.01 and a 1-year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, topping the consensus estimate of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The company had revenue of $18.68 billion during the quarter, compared to the consensus estimate of $16.83 billion. During the same period in the previous year, the firm posted $12.25 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, research analysts forecast that The Goldman Sachs Group will post 67.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter worth about $24,172,123,000. Bank of America Corp DE acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $6,756,772,000. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $69,537,544,000. Bank of New York Mellon Corp acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at approximately $2,560,028,000. Finally, Corient Private Wealth LLC boosted its stake in The Goldman Sachs Group by 1,657.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after acquiring an additional 2,448,767 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs reported third-quarter earnings of $17.01 per share versus the $12.86 consensus estimate, while revenue reached $18.68 billion against expectations of $16.83 billion. Revenue increased 23% year over year, driven by strong equities trading and investment-banking fees. Wall Street earnings article
• Positive Sentiment: TD Cowen initiated coverage of GS with a Buy rating, adding a new constructive analyst view after the earnings release. TD Cowen coverage article
• Positive Sentiment: Management said capital-markets activity remains strong and described the underlying economy as resilient. Goldman also declared a $5 quarterly dividend, reinforcing shareholder returns. Goldman CEO comments
• Neutral Sentiment: Goldman Sachs is acting as a book-running manager for City Therapeutics’ upsized $200 million IPO. The deal may generate fees and highlights continued investment-banking activity, but its direct financial impact on GS is likely limited. City Therapeutics IPO article
• Negative Sentiment: Several firms lowered their expectations after the earnings report. Citigroup cut its price target from $1,050 to $1,000 and retained a Neutral rating; RBC also reduced its target, while another report cited a downgrade. Citigroup target-cut article
• Negative Sentiment: Hotter inflation and expectations for higher interest rates have pressured financial stocks. CEO David Solomon warned that abrupt rate movements could create headwinds, while the unwinding of AI-related trades has increased hedge-fund and market volatility. Market reaction article

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.