Bank of America Securities Sticks to Their Buy Rating for Goldman Sachs Group (GS)

In a report released today, Ebrahim Poonawala from Bank of America Securities maintained a Buy rating on Goldman Sachs Group (GS – Research Report). The company’s shares closed yesterday at $485.16.

Poonawala covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, US Bancorp, and Goldman Sachs Group. According to TipRanks, Poonawala has an average return of 9.5% and a 66.14% success rate on recommended stocks.

Goldman Sachs Group has an analyst consensus of Strong Buy, with a price target consensus of $529.00, a 9.04% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $553.00 price target.

Based on Goldman Sachs Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $12.73 billion and a net profit of $3.04 billion. In comparison, last year the company earned a revenue of $10.9 billion and had a net profit of $1.22 billion

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GS in relation to earlier this year. Last month, DAVID M SOLOMON, the COB & CEO of GS sold 6,000.00 shares for a total of $3,001,740.00.

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Goldman Sachs Group (GS) Company Description:

Founded in 1869, Goldman Sachs Group, Inc. is a leading global investment banking, securities, and investment management firm. The company provides a range of financial services to clients including corporations, financial institutions, governments and individuals. The company operates through four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.