JPMorgan Chase & Co. Forecasts Strong Price Appreciation for The Goldman Sachs Group (NYSE:GS) Stock

The Goldman Sachs Group (NYSE:GSGet Free Report) had its price target boosted by analysts at JPMorgan Chase & Co. from $750.00 to $775.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 17.47% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Rothschild & Co Redburn upped their price objective on shares of The Goldman Sachs Group from $608.00 to $748.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Daiwa Capital Markets upped their price target on shares of The Goldman Sachs Group from $823.00 to $927.00 and gave the company a “neutral” rating in a research report on Tuesday. Jefferies Financial Group raised their price objective on The Goldman Sachs Group from $898.00 to $1,087.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley lowered their target price on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. Finally, BNP Paribas Exane increased their target price on The Goldman Sachs Group from $685.00 to $775.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Five research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $849.61.

Read Our Latest Analysis on GS

The Goldman Sachs Group Price Performance

GS opened at $939.04 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $281.65 billion, a P/E ratio of 19.07, a PEG ratio of 1.00 and a beta of 1.33. The stock has a 50-day moving average price of $852.31 and a 200-day moving average price of $783.16. The Goldman Sachs Group has a 12-month low of $439.38 and a 12-month high of $961.69.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The company had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The Goldman Sachs Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $8.40 EPS. Equities analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently made changes to their positions in GS. Gilliland Jeter Wealth Management LLC increased its position in The Goldman Sachs Group by 3.5% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 388 shares of the investment management company’s stock valued at $309,000 after purchasing an additional 13 shares during the period. EWA LLC increased its position in shares of The Goldman Sachs Group by 2.2% during the third quarter. EWA LLC now owns 612 shares of the investment management company’s stock valued at $488,000 after buying an additional 13 shares during the period. Carrera Capital Advisors raised its stake in The Goldman Sachs Group by 3.5% in the third quarter. Carrera Capital Advisors now owns 385 shares of the investment management company’s stock worth $306,000 after buying an additional 13 shares in the last quarter. Centerpoint Advisors LLC raised its stake in The Goldman Sachs Group by 1.5% in the third quarter. Centerpoint Advisors LLC now owns 863 shares of the investment management company’s stock worth $687,000 after buying an additional 13 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in The Goldman Sachs Group by 0.9% in the third quarter. Cassaday & Co Wealth Management LLC now owns 1,488 shares of the investment management company’s stock worth $1,185,000 after buying an additional 13 shares during the period. Institutional investors own 71.21% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

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The Goldman Sachs Group Company Profile

(Get Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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