The Goldman Sachs Group (NYSE:GS) Price Target Raised to $970.00 at Wells Fargo & Company

The Goldman Sachs Group (NYSE:GS) had its price target increased by investment analysts at Wells Fargo & Company from $855.00 to $970.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 3.88% from the company’s current price.

GS has been the subject of several other research reports. UBS Group raised their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $870.00 to $971.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. HSBC upped their price target on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Daiwa Capital Markets raised their price objective on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $808.47.

The Goldman Sachs Group Stock Performance

GS opened at $933.73 on Monday. The business has a 50 day moving average price of $836.84 and a two-hundred day moving average price of $774.52. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $280.05 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.33. The Goldman Sachs Group has a 1-year low of $439.38 and a 1-year high of $919.10.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The company had revenue of $15.18 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter in the previous year, the business earned $8.40 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Institutional Trading of The Goldman Sachs Group

Institutional investors have recently made changes to their positions in the stock. Dogwood Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after buying an additional 36 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in The Goldman Sachs Group during the third quarter valued at $26,000. First PREMIER Bank acquired a new stake in The Goldman Sachs Group during the third quarter valued at $28,000. Corundum Trust Company INC purchased a new position in The Goldman Sachs Group in the third quarter valued at about $29,000. Finally, Clearstead Trust LLC acquired a new position in The Goldman Sachs Group in the 2nd quarter worth about $31,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.