Goldman Sachs Group, Inc. (GS) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Goldman Sachs Group, Inc. (GS) is a prominent financial institution based in New York City, renowned for its comprehensive array of services within the Capital Markets industry of the Financial Services sector. Established in 1869, Goldman Sachs serves a global clientele, including corporations, financial institutions, governments, and individuals. The firm operates across various segments:
– Global Banking & Markets: Offers financial advisory and client execution services.
– Asset & Wealth Management: Manages diverse asset classes while providing personalized advisory solutions.
– Platform Solutions: Focuses on credit card offerings and cash management services.
As an investment, Goldman Sachs is perceived as a solid opportunity within the financial services landscape, supported by its historical performance and extensive market presence.
Financial Performance and Analyst Outlook
Current recommendations for Goldman Sachs have tilted towards a “buy,” with a target high price of $571.00, indicating strong growth potential. The firm reported total revenue of approximately $48.89 billion, a significant testament to its resilient market position despite broader economic challenges. The stock price currently sits at $498.43, below the target high and mean price of $516.64, suggesting upward potential.
Trading dynamics reveal 315,800,000 shares outstanding, with a notably low short interest of about 0.0187%. This indicates a generally positive sentiment among investors, as higher short percentages often correlate with bearish outlooks. Analysts project a target low price of $420.20, alongside a median price of $527.00, furthering a consensus that suggests purchasing the stock is advisable, supported by a mean recommendation score of 2.1 from 19 analysts.
Price Dynamics and Market Position
With a fifty-two week high of $517.26 and a low of $289.36, Goldman Sachs’ current price of $498.43 positions it solidly within its annual performance range, reflecting a robust year. The stock is trading above its fifty-day moving average of $491.37, a signal of bullish momentum in the short term. This combination of upward price movement and positive analyst sentiment may indicate sustained investor confidence and highlight future trading opportunities.
This report underscores the optimistic outlook for Goldman Sachs, driven by strong financial fundamentals and positive market sentiment, making it a compelling consideration for investors in the current financial landscape.
| Metric | Value |
|---|---|
| Market Cap | $157.4b |
| Total Debt | $701.7b |
| Total Cash | $1014.0b |
| Shares Outstanding | 315.8m |
| Float Shares | 331.2m |
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