The Goldman Sachs Group (NYSE:GS) Raised to Buy at Wall Street Zen

The Goldman Sachs Group (NYSE:GS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. Barclays upped their price target on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Citigroup reiterated a “market perform” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 14th. BMO Capital Markets cut their price objective on The Goldman Sachs Group from $970.00 to $950.00 and set a “market perform” rating for the company in a research report on Monday, October 19th. Bank of America boosted their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Finally, Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus price target of $1,052.48.

The Goldman Sachs Group Trading Up 0.0%

GS opened at $876.07 on Friday. The stock has a market capitalization of $255.08 billion, a PE ratio of 12.60, a P/E/G ratio of 0.83 and a beta of 1.29. The Goldman Sachs Group has a one year low of $754.00 and a one year high of $1,153.99. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.63 and a current ratio of 1.10. The business’s 50 day moving average price is $959.69 and its 200 day moving average price is $991.52.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, topping the consensus estimate of $12.86 by $4.15. The company had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. The Goldman Sachs Group had a return on equity of 19.55% and a net margin of 15.77%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business posted $12.25 earnings per share. As a group, equities research analysts expect that The Goldman Sachs Group will post 70.89 EPS for the current year.

Institutional Investors Weigh In On The Goldman Sachs Group

Several large investors have recently bought and sold shares of GS. Turim 21 Investimentos Ltda. acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $25,000. Strive Financial Group LLC lifted its stake in The Goldman Sachs Group by 316.7% in the second quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock worth $25,000 after acquiring an additional 19 shares during the last quarter. BOK Financial Private Wealth Inc. lifted its stake in The Goldman Sachs Group by 188.9% in the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after acquiring an additional 17 shares during the last quarter. Cherry Tree Wealth Management LLC grew its holdings in The Goldman Sachs Group by 100.0% during the 3rd quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock worth $27,000 after acquiring an additional 15 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Freedom Broker upgraded GS from “Hold” to “Buy” and set a $1,100 price target, implying approximately 25.6% upside from the referenced share price. However, the target was reduced from $1,200, which somewhat tempers the bullish signal. Freedom Broker upgrades Goldman Sachs to Buy
• Positive Sentiment: Goldman Sachs reported particularly strong equities performance in the third quarter, with net revenue rising 72% year over year to $6.44 billion. Robust client activity, financing demand and derivatives contributed to the result, supporting optimism about earnings momentum. Goldman Sachs equities revenue growth
• Positive Sentiment: Zacks upgraded Goldman Sachs to a Rank #2 (“Buy”), citing improving expectations for the company’s earnings prospects. Zacks upgrades Goldman Sachs to Buy

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.