The Goldman Sachs Group, Inc. Stock Price Targets

Comprehensive analysis of short, mid, and long-term price targets for The Goldman Sachs Group, Inc. (GS).

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Give me a comprehensive price target analysis for The Goldman Sachs Group, Inc. (GS).

Here is a comprehensive Goldman Sachs (GS) analysis with the requested horizontal trendlines drawn and a structured, data-driven price target view.

Drawing confirmation

  • Low Target: 570 drawn (blue) from 2025-10-10 to 2025-11-09
  • Median Target: 790 drawn (orange) from 2025-10-10 to 2025-11-09
  • High Target: 892 drawn (red) from 2025-10-10 to 2025-11-09

Prices were extended 30 days into the future from today (2025-10-10) to 2025-11-09. Ticker: GS

Executive Summary

  • Goldman Sachs remains a premier global investment bank with exposure to advisory, underwriting, trading, asset management, and wealth management. The current price of approximately 779.96 sits near the analyst median target (790) and well above the low target (570), with the high target (892) offering meaningful upside potential.
  • The stock exhibits favorable profitability and cash position but carries notable leverage in the balance sheet. Near-term catalysts include earnings revisions turning positive and ongoing capital return, while macro headwinds in markets could limit near-term upside.

Fundamental Analysis Key metrics (as provided)

  • Market Cap: $236.11B
  • Enterprise Value: $10.28B
  • Trailing P/E: 17.17
  • Forward P/E: 18.77
  • Price/Book: 2.27
  • Return on Equity (ROE): 12.74%
  • Return on Assets (ROA): 0.90%
  • Profit Margin: 28.40%
  • Gross Margin: 82.78%
  • Operating Margin: 35.735%
  • Debt/Equity: 588.39 (noting extraordinarily high leverage figure for this dataset; interpret with caution)
  • Total Cash: $983.18B
  • Total Debt: $732.19B
  • Dividend Yield: 2.06% (five-year avg 2.22%)
  • Beta: 1.415

Observations

  • The balance sheet shows substantial cash and debt; net cash implied by cash minus debt is positive in this dataset, but the debt/equity figure is unusually high, suggesting potential data anomalies. The large cash position supports liquidity and buyback capacity.
  • Valuation looks reasonable on a cyclical bank/investment bank basis (trailing P/E around 17) with modest dividend support and ROE in the low- to mid-teens.
  • P/B at 2.27 implies some premium to book value, consistent with a reputationally dominant platform and diversified revenue streams.

Earnings Analysis Recent Earnings Summary (selected highlights)

  • 2025-06-30:
    • Net Income (Continuing Ops): $3.723B
    • Diluted EPS: $10.91
    • Revenue (Total): $14.583B
    • Normalized Income: ~$3.723B
    • Pretax Income: $4.958B
    • Depreciation/Amortization: $618M
  • 2025-03-31:
    • Net Income (Continuing Ops): $4.738B
    • Diluted EPS: $14.12
    • Revenue: $15.062B
  • 2024-12-31:
    • Net Income (Continuing Ops): $4.111B
    • Diluted EPS: $11.95
    • Revenue: $13.869B

EPS Trends

  • Current (0q): 11.0789
  • 7 days ago: 10.7164
  • 30 days ago: 10.4708
  • 60 days ago: 10.4635
  • 90 days ago: 10.2044
  • +1q: 11.4795 (recent quarter)
  • 1y (trailing): 47.1726
  • +1y (forward/next year): 53.8099

Interpretation

  • The EPS trend shows a recent uplift in the latest quarter (+~3.6% vs prior quarter) and a higher year-over-year trajectory when looking at the one-year figures. The presence of a meaningful increase in the latest quarter’s EPS hints at improving quarter-to-quarter dynamics, albeit with some volatility across quarters (likely reflecting unusual items, macro trading performance, and advisory volumes).

EPS Revisions

  • 0q: Up Last 7 Days = 2; Up Last 30 Days = 4; Down Last 30 Days = 1; Down Last 7 Days = 0
  • +1q: Up Last 7 Days = 2; Up Last 30 Days = 5; Down Last 30 Days = 0; Down Last 7 Days = 0
  • 0y: Up Last 7 Days = 2; Up Last 30 Days = 6; Down Last 30 Days = 0; Down Last 7 Days = 0
  • +1y: Up Last 7 Days = 2; Up Last 30 Days = 5; Down Last 30 Days = 0; Down Last 7 Days = 0

Interpretation

  • Net upgrades dominate, particularly over the last 30 days and for the next year, suggesting improving analyst sentiment on earnings trajectory. The revisions data supports a constructive near- to mid-term earnings backdrop.

Technical Analysis

  • Current Price Action: 779.96
  • 50-Day Moving Average (MA): ~756.5 (latest data point 2025-10-09 is 756.5; MA rising from 633-756 range through mid-October)
  • Price vs MA: Price sits above the 50-day MA, indicating near-term bullish bias on a trend basis, albeit neck-and-neck with the MA in places earlier in the period.
  • RSI (14): Latest value 36.5 (late Sep–early Oct readings show RSI in the mid-30s; not yet oversold, but weakening momentum).
  • MACD (12,26,9): Latest MACD 7.5, Signal 12.1 (MACD below signal, suggesting negative/neutral momentum in the near term; histogram is negative, which aligns with the current pullback from recent highs).

Analyst Consensus & Price Targets

  • Current Price: 779.96
  • Number of Analysts: 19
  • Target High: 892.00
  • Target Low: 570.00
  • Target Median: 790.00
  • Target Mean: 761.53

Key takeaways

  • The central broker view is around 790 in the median case, with a substantial upside to 892 if sentiment improves and earnings momentum continues. The mean target of 761.53 sits below the current price, indicating some mixed or cautious sentiment among a subset of coverages.

Price Target Analysis (Short, Mid, Long-Term)

  • Based on the provided targets, the stock trades with a defined set of scenarios:

    • Current price: 779.96
    • Low Target: 570.00 (-26.9% vs current)
    • Median Target: 790.00 (+1.3% vs current)
    • High Target: 892.00 (+14.4% vs current)

  • Short-Term (3 months)

    • Target Price (base-case): 790 (median)
    • Upside/Downside vs current: +1.3%
    • Rationale: Near-term earnings revisions have shown net upgrades, and the stock is trading near the median target. Positive revisions (up Last 7/30/60 days and into next year) support modest upside if earnings momentum continues. Key drivers include better-than-expected quarterly results, stable fee income from capital markets, and potential cost discipline.
    • Risks: MACD bearishness and RSI in the mid-30s imply ongoing momentum risk; macro volatility could cap upside in the near term.

  • Mid-Term (12 months)

    • Target Price (bull/baseline): 790 (median)
    • Upside/Downside vs current: +1.3%
    • Rationale: A repeat of current earnings momentum coupled with potential buyback activity and continued capital return could push the multiple and earnings higher, keeping the median target in play. If sentiment improves and earnings revisions stay positive, the high target of 892 becomes a more plausible outcome by next year.
    • Risks: Analyst mean target is 761.53, suggesting some downside risk from the majority of analysts if macro conditions weaken or if the bank’s trading volumes disappoint.

  • Long-Term (3+ years)

    • Target Price (long-run): 900–1,000 (illustrative range anchored by continued earnings power and multiple support)
    • Rationale: Goldman’s leadership in investment banking, asset management, and wealth management provides durable earnings diversification. If ROE remains in the low-teens, and if P/B normalization plus earnings growth support a higher multiple, a long-run target near 1,000 could be achievable. This scenario implies modest yet sustained earnings growth, potential margin expansion, and constructive capital allocation (buybacks/dividends).
    • Risks: Prolonged macro weakness, regulatory changes, or a sustained decline in advisory/in underwriting activity could constrain long-run upside. The current leverage figures in the dataset also warrant close monitoring for balance-sheet risk.

Table: Price Targets and Current Price

  • Current Price: 779.96
  • Low Target: 570.00
  • Median Target: 790.00
  • High Target: 892.00
  • Upside (to High): ~14.4%
  • Upside (to Median): ~1.3%
  • Downside (to Low): ~-26.9%

Key Drivers and Catalysts

  • Earnings Revisions: Net upgrades across 7/30/60 days and into the next year suggest consensus may be shifting to a more constructive earnings path.
  • Revenue Mix: Continued strength in investment banking, underwriting, and trading, combined with asset management and wealth management, reduces reliance on any one cycle.
  • Capital Allocation: Buybacks and dividends support per-share return, potentially supporting multiples.
  • MACD and RSI: Near-term momentum concerns (MACD negative cross; RSI in the mid-30s) imply near-term volatility.
  • Market Environment: Economic growth, interest rates stability, and M&A activity levels will influence near-term volumes and profitability.

Key Risks & Opportunities

  • Key Risks
    • Macro volatility affecting trading volumes and underwriting activity.
    • Regulatory changes impacting banking/markets activities or capital requirements.
    • Earnings volatility from unusual items or provisions in a cyclically sensitive period.
    • The high debt/equity figure in the provided dataset signals potential balance-sheet interpretation sensitivity (watch debt mix and liquidity metrics).
  • Key Opportunities
    • Stable, well-diversified earnings base and strong cash generation.
    • Continued capital return (dividends + buybacks) supporting shareholder value.
    • Potential multiple expansion if earnings growth is sustained and investors rotate toward high-quality financials.

Investment Recommendation

  • Recommendation: Hold to Buy with a moderate upside potential over a 12–24 month horizon.
  • Time Horizon: 12–24 months
  • Expected Return Potential: If the high target of 892 is realized, upside could approach +14% from the current price; in a more conservative scenario (median target) about +1–2%. Over a longer horizon with earnings growth and multiple expansion, a move toward the 900–1,000 range could be possible, depending on macro conditions and company-specific performance.
  • Rationale: The stock sits near the median analyst target with upside to the high target and risk to the low target. Positive EPS revisions underpin a constructive stance, but momentum indicators suggest staying mindful of near-term volatility.

Technical Indicators Snapshot (context)

  • 50-day MA (~756.5) vs. price (779.96): Price trading above the 50-day moving average, consistent with a mildly bullish near-term bias.
  • RSI (14) latest: 36.5 – suggests room for trend continuation but with sub-50 momentum, indicating potential for a pullback or consolidation before another move higher.
  • MACD (12,26,9) latest: MACD 7.5 vs Signal 12.1 – indicates bearish momentum in the near term, aligning with the current price near the trendline resistance (790) and the near-term pullback seen in some periods.

Tables: Selected Metrics (condensed)

  • Current Price: 779.96
  • Analyst Coverage: 19
  • Target High / Low / Median / Mean: 892.00 / 570.00 / 790.00 / 761.53
  • P/E (Trailing / Forward): 17.17 / 18.77
  • P/B: 2.27
  • ROE / ROA: 12.74% / 0.90%
  • Profit Margin / Gross Margin / Operating Margin: 28.40% / 82.78% / 35.74%
  • Cash / Debt: $983.18B / $732.19B
  • Dividend Yield / Beta: 2.06% / 1.415

Appendix: Earnings Summary, EPS Trends, and EPS Revisions (reference)

  • Earnings Summary highlights:
    • 2025-06-30: Net Income (Continuing Ops) ~$3.723B; Diluted EPS 10.91; Revenue ~$14.583B
    • 2025-03-31: Net Income ~$4.738B; Diluted EPS 14.12; Revenue ~$15.062B
    • 2024-12-31: Net Income ~$4.111B; Diluted EPS 11.95; Revenue ~$13.869B
  • EPS Trends: current ~11.08; +1q ~11.48; 0y ~47.17; +1y ~53.81
  • EPS Revisions: Net upgrades across 7/30/60 days; Up Last 30 Days generally higher than Down Last 30 Days, signaling improving sentiment.

Note on data

  • All figures are taken from the data you provided. Where there appear to be data anomalies (e.g., extremely high debt/equity relative to typical GS balance-sheet metrics), these should be verified against the latest 10-Q/quarterly filings for precise interpretation.

If you’d like, I can extend this analysis with a scenario-based model (base/bull/bear) using the provided targets and assumptions on earnings growth, ROE, and a likely P/E trajectory, and generate an accompanying chart with the three price targets and the current price path.

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