Evercore ISI Increases The Goldman Sachs Group (NYSE:GS) Price Target to $440.00

The Goldman Sachs Group (NYSE:GS) had its target price raised by investment analysts at Evercore ISI from $435.00 to $440.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the investment management company’s stock. Evercore ISI’s target price indicates a potential upside of 8.94% from the company’s previous close.

Several other brokerages have also commented on GS. Argus upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target on the stock in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Oppenheimer lifted their price target on shares of The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group lifted their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Finally, Morgan Stanley raised shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $333.00 to $449.00 in a research report on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.93.

The Goldman Sachs Group Price Performance

Shares of GS opened at $403.91 on Tuesday. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $419.20. The firm’s fifty day simple moving average is $395.67 and its 200-day simple moving average is $365.35. The firm has a market capitalization of $131.08 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.56 and a beta of 1.43. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same period last year, the business earned $8.79 EPS. The Goldman Sachs Group’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities analysts forecast that The Goldman Sachs Group will post 32.76 EPS for the current fiscal year.

Insider Activity

In other news, CAO Sheara J. Fredman sold 4,300 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total value of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the sale, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The disclosure for this sale can be found here. Insiders have sold a total of 35,907 shares of company stock valued at $13,950,851 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its holdings in The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares in the last quarter. First United Bank & Trust purchased a new stake in The Goldman Sachs Group during the fourth quarter worth about $26,000. Pineridge Advisors LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter worth about $29,000. BKM Wealth Management LLC acquired a new position in The Goldman Sachs Group during the fourth quarter worth about $32,000. Finally, Cambridge Trust Co. lifted its holdings in shares of The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.