The Goldman Sachs Group (NYSE:GS) Rating Increased to Strong-Buy at HSBC

The Goldman Sachs Group (NYSE:GS) was upgraded by HSBC from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

GS has been the topic of several other reports. CICC Research boosted their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Wall Street Zen raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Oppenheimer cut shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. BNP Paribas Exane reduced their price objective on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Finally, Citigroup upped their target price on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,062.86.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $1,062.20 on Wednesday. The company has a market cap of $313.36 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.07 and a beta of 1.30. The business has a 50 day moving average price of $1,055.78 and a 200 day moving average price of $956.78. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group has a twelve month low of $705.55 and a twelve month high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The company had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same period in the previous year, the company earned $10.91 earnings per share. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group will post 68.89 earnings per share for the current year.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. This represents a 18.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Large investors have recently modified their holdings of the stock. Bridgewater Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $9,050,000. Bank Hapoalim BM acquired a new position in The Goldman Sachs Group during the 2nd quarter worth $246,000. BIP Wealth LLC acquired a new position in The Goldman Sachs Group during the 2nd quarter worth $1,502,000. Phillips Financial Management LLC acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at $244,000. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at $13,247,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman Sachs’ latest quarterly results were substantially stronger than expected, with earnings per share of $20.98 versus a $14.47 consensus estimate and revenue of $20.34 billion, up 39.4% year over year. The results reinforce the outlook for investment banking, trading and asset-management revenue.
• Positive Sentiment: Bank of America reportedly believes Goldman Sachs shares have further upside after doubling from their “Liberation Day” lows, supporting continued investor confidence in the firm’s earnings recovery and business mix. Goldman Sachs stock doubles from Liberation Day lows
• Positive Sentiment: Goldman Sachs is serving as a joint book-running manager on Braveheart Bio’s upsized $382.5 million IPO and previously helped lead Attovia Therapeutics’ $289 million offering. A healthy IPO pipeline and improving equity issuance activity can boost Goldman’s underwriting fees. Braveheart Bio Prices Upsized IPO
• Positive Sentiment: Analysts and market commentary continue to highlight Goldman’s momentum, including strong trading, mergers and acquisitions, blockbuster IPO activity and the potential for artificial intelligence to improve productivity and expand fee-based revenue. Goldman’s AI Strategy

About The Goldman Sachs Group

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.