The Goldman Sachs Group (NYSE:GS) Price Target Raised to $588.00

The Goldman Sachs Group (NYSE:GS) had its price target boosted by stock analysts at Barclays from $565.00 to $588.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. Barclays‘s price objective points to a potential upside of 10.97% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Bank of America raised their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday. Evercore ISI increased their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup lifted their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Stock Up 1.4 %

Shares of GS stock traded up $7.48 during mid-day trading on Wednesday, reaching $529.86. 2,632,679 shares of the company’s stock traded hands, compared to its average volume of 2,221,907. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The company’s 50-day moving average price is $495.39 and its 200-day moving average price is $467.39. The company has a market cap of $170.86 billion, a P/E ratio of 20.67, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $540.51.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.47 earnings per share. On average, equities analysts expect that The Goldman Sachs Group will post 35.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Goldman Sachs Group

Several large investors have recently added to or reduced their stakes in GS. Rheos Capital Works Inc. grew its position in shares of The Goldman Sachs Group by 265.4% during the third quarter. Rheos Capital Works Inc. now owns 248,500 shares of the investment management company’s stock worth $123,035,000 after purchasing an additional 180,500 shares in the last quarter. B.O.S.S. Retirement Advisors LLC grew its holdings in The Goldman Sachs Group by 18.7% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 10,707 shares of the investment management company’s stock valued at $5,301,000 after buying an additional 1,684 shares in the last quarter. Transform Wealth LLC lifted its holdings in shares of The Goldman Sachs Group by 1.3% in the third quarter. Transform Wealth LLC now owns 31,065 shares of the investment management company’s stock worth $15,381,000 after buying an additional 399 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in shares of The Goldman Sachs Group by 2.4% during the third quarter. Sumitomo Life Insurance Co. now owns 3,643 shares of the investment management company’s stock worth $1,804,000 after acquiring an additional 84 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its stake in The Goldman Sachs Group by 3.6% during the third quarter. SeaCrest Wealth Management LLC now owns 1,894 shares of the investment management company’s stock valued at $938,000 after acquiring an additional 65 shares in the last quarter. 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.