Goldman Sachs (GS) experienced strong momentum in the market. Over the last five years, GS investors achieved solid returns, with the stock performing exceptionally well, reaching new record highs since 2021. GS's performance that priced up led to increased target prices by analysts at Oppenheimer and other firms. Although the stock has experienced slight fluctuations, its overall trend is generally positive. The firm reported robust Earnings per Share(EPS) in its full year and Q4 2023 earnings report. It hit a new 52-week high with institutional investors dominantly backing the stocks despite minor losses. However, the company faced a few bearish signals including insider selling and concerns over revenue sustainability leading to downgrade to sell.
In Q1 2024, following strong results, Goldman Sachs saw a promising surge in stock trading. Its private credit portfolio is set to increase to $300 billion in the next five years because of its ambitious plans. Yet, there's also some negative trending news due to an investigation over futures trading fee. Despite challenges, GS's steady performance, strategic SWOT analysis insights and expected earnings growth keep the stock favourable for long-term investments. Their forecasts for 2024 Fed have been revised from four to three rate cuts.
On the downside, GS also announced the closing of Marcus Invest after the Betterment deal. They faced the prospect of market volatility shrinking their profit by a third. The firm also closed its diversity-driven investment program and started pressuring staff to return to office five days a week.
Goldman Sachs Group GS News Analytics from Wed, 19 Jul 2023 07:00:00 GMT to Mon, 06 May 2024 16:08:03 GMT - Rating 6 - Innovation 8 - Information 7 - Rumor 2
