Barclays took its The Goldman Sachs Group Inc. [NYSE:GS] rating to the equivalent of Overweight from Equal Weight, and the price target to $362, in a research note dated January 4, 2021. That figure represents around a 37.27% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Morgan Stanley’s analysts downgrading the shares from “an Equal-weight” rating to “an Underweight” rating in a research note to investors issued in late November. Meanwhile, UBS had raised its rating on GS to “Buy” from the earlier “Neutral”, in a research note produced for clients September 24, 2020. In addition, there was a new coverage from Seaport Global Securities on July 08, 2020. The research firm rated GS “a Buy”.
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Is The Goldman Sachs Group Inc. [NYSE:GS] a Good Buy Right Now?
It should be noted that GS technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from The Goldman Sachs Group Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 2.64 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 2.88 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 3.12 million shares.
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GS Price Performance
On Wall Street, The Goldman Sachs Group Inc. [NYSE:GS] finished Thursday’s session up 1.64% at $263.71. The stock went up to $263.93 at the same session while its lowest single day price was $258.0001. In the last five days, it saw a rise of about 2.83%, The Goldman Sachs Group Inc. shares gained by almost 14.69% since the beginning of the year. However, the share price has dropped to as low as 0.40% below its one year high. On 12/31/20, the company shares recorded $263.93, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/19/20, the same year at $130.85. The company’s shares have inclined by 12.54% in the past year. The 50-day SMA achieved is $227.23 while the 200-day SMA is $202.32. Volume gained to 2.04 million from 1.57 million in the previous session.
The Goldman Sachs Group Inc. [GS] Valuation Measures
Notably, The Goldman Sachs Group Inc. [GS] stock can be classified as a good candidate in the listing of underestimated low-priced Capital Markets companies to purchase soonest possible with the prevailing 12-month PE ratio of 15.21. The measure means the stock is exchanging at a discount as compared to the 17.66x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.64 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 3.63 which means GS serve an attractive investment opportunity compared to its competitors.
GS Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 259.83 level, and in case of violation of this particular level, it will cause more drop to 255.95 level. On the upper level, 267.81 is still the key resistance. The stock may increase to the subsequent resistance at 265.76. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.75, implying a overbought technical stance while the MACD stands at 9.61, meaning price will increase in the next trading period. Percent R indicator moved to 0.82%, implying bullish price movement. Stochastic %K at 89.49% suggest selling the stock.
What is the short interest in The Goldman Sachs Group Inc.?
Short interest in the The Goldman Sachs Group Inc. stock has plunged, decreasing by -0.67 million shares to total 3.99 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.32 million, data from Yahoo Finance shows. The increase of 16.79% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.16% of the overall float for the stock.
The Goldman Sachs Group Inc.’s Biggest Shareholders: Who Owns The Goldman Sachs Group Inc. [GS]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 24,409,774 shares or roughly 7.09% of the outstanding GS shares. This means their shares have increased by 651,323 from the 24,409,774 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, SSgA Funds Management, Inc. updated stake is worth $4,623,933,724. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 6.93% stake valued at $3,401,053,386 while Massachusetts Financial Services added theirs at $3,010,339,496. During the last quarter, BlackRock Fund Advisors raised 955,539 of its shares in The Goldman Sachs Group Inc. while Massachusetts Financial Services bought 1,372,288 shares. The Dodge & Cox’s holdings currently number 9,558,435 shares at $2520654893.85. According to the firm’s last 13F report, T. Rowe Price Associates, Inc. shares in the company at filing stood at 8,325,077 shares, roughly $1,919,596,255.
GS Earnings Forecast For The Current Quarter
The Goldman Sachs Group Inc. [GS] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $9.48B and an earnings per share of $6.44 for Dec 2020. Looking further ahead, the company is expected to report revenue of $10.04B at an EPS of $6.29 for Mar 2021. The estimates represent downside of -9.30% and 23.26% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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GS Earnings Estimates For The Current Year
For the financial year, The Goldman Sachs Group Inc. [NYSE:GS] is expected to bring in revenue of $42.21B. The returns are nearly $5.66 billion higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 19.89, lower than that of FY19 by -$1.14. Estimates put this year’s earnings growth at -5.40%, 23.20% for the next, and at an annual 10.71% over the next 5-year period. As for sales, forecasts are for an increase of 15.50% in the current fiscal year and a further -9.30% over the following year.
