Goldman Sachs Group, Inc. (The) (NYSE:GS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $271.00 target price on the investment management company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.92% from the stock’s current price.

According to Zacks, “Shares of Goldman outperformed the industry over the past year. Further, the company boasts an impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Goldman’s third-quarter 2017 results surpassed the Zacks Consensus Estimate. Results reflected higher revenues on continued momentum in investment banking business, partially offset by lower fixed-income trading activities and elevated expenses. Though several issues, including sluggish global economic growth and lower client activity levels, remain near-to-medium-term headwinds, we believe the company’s well-diversified business and its focus to capitalize on growth opportunities through strategic moves should continue to bolster the overall business.”

Several other analysts also recently weighed in on GS. Buckingham Research reissued a “neutral” rating and issued a $250.00 price target (up from $243.00) on shares of Goldman Sachs Group, Inc. (The) in a research note on Wednesday. TheStreet raised shares of Goldman Sachs Group, Inc. (The) from a “c+” rating to a “b” rating in a research note on Friday, October 13th. Morgan Stanley boosted their price target on shares of Goldman Sachs Group, Inc. (The) from $265.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $240.00 price target on shares of Goldman Sachs Group, Inc. (The) in a research note on Thursday. Finally, HSBC Holdings plc downgraded shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “hold” rating and boosted their price target for the stock from $223.80 to $250.00 in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Goldman Sachs Group, Inc. (The) presently has a consensus rating of “Hold” and a consensus target price of $242.31.

Goldman Sachs Group, Inc. (NYSE:GS) opened at 241.41 on Friday. The stock’s 50 day moving average is $232.64 and its 200 day moving average is $225.64. The firm has a market capitalization of $93.72 billion, a P/E ratio of 12.66 and a beta of 1.41. Goldman Sachs Group, Inc. has a one year low of $168.45 and a one year high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.17 by $0.85. Goldman Sachs Group, Inc. (The) had a net margin of 26.42% and a return on equity of 11.32%. The company had revenue of $8.33 billion during the quarter, compared to the consensus estimate of $7.59 billion. During the same period in the previous year, the firm posted $4.88 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Goldman Sachs Group, Inc. will post $18.86 earnings per share for the current fiscal year.

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In other Goldman Sachs Group, Inc. (The) news, EVP John F.W. Rogers sold 17,685 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $235.02, for a total value of $4,156,328.70. Following the sale, the executive vice president now owns 80,109 shares in the company, valued at $18,827,217.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David M. Solomon sold 3,260 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $231.59, for a total transaction of $754,983.40. Following the completion of the sale, the insider now owns 177,594 shares in the company, valued at approximately $41,128,994.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,535 shares of company stock worth $5,956,868. Corporate insiders own 2.57% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Quadrant Wealth Management LLC purchased a new stake in Goldman Sachs Group, Inc. (The) in the second quarter worth about $407,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Goldman Sachs Group, Inc. (The) in the second quarter worth approximately $101,000. WealthTrust Arizona LLC lifted its stake in shares of Goldman Sachs Group, Inc. (The) by 97.1% in the second quarter. WealthTrust Arizona LLC now owns 469 shares of the investment management company’s stock worth $104,000 after buying an additional 231 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its stake in shares of Goldman Sachs Group, Inc. (The) by 35.7% in the second quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock worth $105,000 after buying an additional 125 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Goldman Sachs Group, Inc. (The) in the second quarter worth approximately $111,000. Institutional investors and hedge funds own 73.28% of the company’s stock.

Goldman Sachs Group, Inc. (The) Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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