Wells Fargo & Company Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price target reduced by equities research analysts at Wells Fargo & Company from $1,325.00 to $1,175.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 27.44% from the stock’s current price.

GS has been the topic of a number of other research reports. Morgan Stanley set a $1,145.00 price objective on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. UBS Group increased their price target on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 15th. Finally, Barclays boosted their price objective on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average price target of $1,048.57.

The Goldman Sachs Group Price Performance

GS opened at $922.01 on Friday. The firm has a market capitalization of $268.46 billion, a PE ratio of 14.23, a P/E/G ratio of 0.95 and a beta of 1.29. The Goldman Sachs Group has a 52 week low of $740.01 and a 52 week high of $1,153.99. The company has a fifty day moving average price of $1,022.69 and a two-hundred day moving average price of $981.25. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same period last year, the company posted $10.91 EPS. The Goldman Sachs Group’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, analysts anticipate that The Goldman Sachs Group will post 69.64 earnings per share for the current year.

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orange County Employees Retirement System bought a new position in The Goldman Sachs Group in the 2nd quarter valued at about $69,537,544,000. BlackRock Inc. acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $24,172,123,000. State Street Corp boosted its position in shares of The Goldman Sachs Group by 2.1% during the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after acquiring an additional 394,198 shares in the last quarter. Bank of America Corp DE bought a new position in The Goldman Sachs Group in the second quarter valued at approximately $6,756,772,000. Finally, Bank of New York Mellon Corp bought a new position in The Goldman Sachs Group in the second quarter valued at approximately $2,560,028,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Key The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs reportedly raised $11.7 billion for private-equity strategies, including $9.6 billion for its flagship buyout fund and $1.6 billion for an Asia-focused vehicle. The fundraising supports the firm’s alternatives strategy and could generate additional management and performance fees. Goldman Sachs Raises $11.7 Billion for Private Equity
• Positive Sentiment: Goldman is reportedly considering the acquisition of Palmer Square, which could strengthen its credit and asset-management businesses while increasing recurring fee revenue. Goldman Eyes Palmer Square Buyout
• Positive Sentiment: The firm’s growth-equity arm invested $400 million in cybersecurity company Cyera, expanding Goldman’s exposure to technology and cybersecurity assets. The investment may offer longer-term upside, though it also commits capital to a high-growth private company. Cyera Raises $400 Million
• Neutral Sentiment: Jim Cramer continues to praise GS for what he views as an attractive valuation, while other coverage highlights the stock’s roughly 204% three-year gain and questions whether future returns can justify the higher share price. Goldman Sachs Stock Could Be Undervalued
• Negative Sentiment: Wells Fargo lowered its GS price target to $1,175 from $1,325 but retained an Overweight rating. The cut reduces near-term upside expectations even though the analyst remains bullish. Wells Fargo Adjusts Price Target
• Negative Sentiment: Citigroup previously reduced its target to $1,050 from $1,200 and maintained a Neutral rating. The back-to-back target reductions suggest analysts are reassessing valuation and the sustainability of Goldman’s strong rally. Citigroup Adjusts Price Target

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc (NYSE:GS) is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individuals. The company is headquartered in New York City and serves clients across North America, Europe, Asia-Pacific and other international markets.

Through its Global Banking & Markets segment, Goldman Sachs advises clients on mergers and acquisitions, capital raising, restructuring and other strategic transactions.