The Goldman Sachs Group (NYSE:GS) Price Target Raised to $320.00 at JMP Securities


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The Goldman Sachs Group (NYSE:GS) had its target price hoisted by investment analysts at JMP Securities from $285.00 to $320.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage presently has an “outperform” rating on the investment management company’s stock. JMP Securities’ price objective indicates a potential upside of 5.63% from the company’s current price.

Several other equities research analysts have also recently weighed in on GS. ValuEngine cut The Goldman Sachs Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 17th. Deutsche Bank Aktiengesellschaft increased their price target on The Goldman Sachs Group from $230.00 to $290.00 and gave the company a “hold” rating in a research note on Wednesday, January 6th. Citigroup increased their price target on The Goldman Sachs Group from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Daiwa Capital Markets initiated coverage on The Goldman Sachs Group in a research note on Wednesday, January 6th. They issued an “outperform” rating and a $300.00 price target for the company. Finally, TheStreet raised The Goldman Sachs Group from a “c+” rating to a “b-” rating in a research note on Wednesday, October 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $275.67.

Shares of GS opened at $302.94 on Tuesday. The Goldman Sachs Group has a 12-month low of $130.85 and a 12-month high of $303.98. The business has a 50-day simple moving average of $254.13 and a two-hundred day simple moving average of $217.15. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.63. The stock has a market cap of $104.23 billion, a PE ratio of 12.76, a PEG ratio of 1.12 and a beta of 1.48.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 20th. The investment management company reported $9.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.57 by $4.11. The business had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $9.40 billion. The Goldman Sachs Group had a return on equity of 11.23% and a net margin of 16.65%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.79 EPS. On average, equities research analysts expect that The Goldman Sachs Group will post 19.03 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. lifted its holdings in shares of The Goldman Sachs Group by 0.5% in the fourth quarter. Raymond James Trust N.A. now owns 7,322 shares of the investment management company’s stock valued at $1,931,000 after purchasing an additional 38 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. IFM Investors Pty Ltd now owns 31,419 shares of the investment management company’s stock valued at $8,286,000 after acquiring an additional 4,580 shares during the last quarter. Coastal Investment Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $209,000. Redpoint Investment Management Pty Ltd increased its position in shares of The Goldman Sachs Group by 12.9% during the fourth quarter. Redpoint Investment Management Pty Ltd now owns 8,532 shares of the investment management company’s stock valued at $2,250,000 after acquiring an additional 978 shares during the last quarter. Finally, Sowell Financial Services LLC increased its position in shares of The Goldman Sachs Group by 741.0% during the fourth quarter. Sowell Financial Services LLC now owns 9,688 shares of the investment management company’s stock valued at $2,555,000 after acquiring an additional 8,536 shares during the last quarter. Institutional investors own 65.67% of the company’s stock.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The company's Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services.

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