Oppenheimer Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

The Goldman Sachs Group (NYSE:GS) had its target price lifted by Oppenheimer from $614.00 to $661.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s target price would suggest a potential upside of 10.91% from the company’s previous close.

GS has been the topic of a number of other reports. Barclays increased their price objective on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JMP Securities raised their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Citigroup raised their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, UBS Group upped their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus target price of $527.63.

The Goldman Sachs Group Trading Up 13.1 %

NYSE:GS opened at $595.98 on Tuesday. The Goldman Sachs Group has a 12-month low of $319.66 and a 12-month high of $598.60. The firm has a market cap of $188.21 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The company has a current ratio of 1.11, a quick ratio of 0.72 and a debt-to-equity ratio of 2.07. The stock has a fifty day moving average price of $504.77 and a 200 day moving average price of $480.57.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter last year, the business posted $5.47 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group will post 37.14 earnings per share for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Large investors have recently modified their holdings of the stock. Waldron Private Wealth LLC increased its holdings in shares of The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares during the last quarter. First Pacific Financial grew its position in The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after acquiring an additional 20 shares during the period. Krane Funds Advisors LLC increased its stake in The Goldman Sachs Group by 1.7% during the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock worth $583,000 after acquiring an additional 20 shares during the last quarter. Tanager Wealth Management LLP raised its holdings in shares of The Goldman Sachs Group by 3.6% in the 3rd quarter. Tanager Wealth Management LLP now owns 569 shares of the investment management company’s stock worth $282,000 after purchasing an additional 20 shares during the period. Finally, M3 Advisory Group LLC lifted its stake in shares of The Goldman Sachs Group by 3.9% in the 3rd quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock valued at $279,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.