Goldman Sachs Group Inc Gets a Hold Rating from RBC Capital

By Carrie Williams

RBC Capital analyst Gerard Cassidy reiterated a Hold rating on Goldman Sachs Group Inc (NYSE: GS) yesterday and set a price target of $240. The company’s shares closed yesterday at $222.42.

According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 25.5% and a 76.5% success rate. Cassidy covers the Financial sector, focusing on stocks such as Provident Financial Services, Discover Financial Services, and Huntington Bancshares Inc.

Currently, the analyst consensus on Goldman Sachs Group Inc is Hold and the average price target is $232.33, representing a 4.5% upside.

In a report issued on August 23, BMO Capital also reiterated a Hold rating on the stock with a $202 price target.

Based on Goldman Sachs Group Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $9.87 billion and quarterly net profit of $1.83 billion. In comparison, last year the company earned revenue of $9.13 billion and had a net profit of $1.82 billion.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock.

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Goldman Sachs Group, Inc. engages in global investment banking, securities, and investment management, which provides a range of financial services to corporations, financial institutions, governments, and individuals. It operates through the following business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment focuses on the provision of financial advisory services public and private sector clients around the world. The Institutional Client Services segment facilitates clients regarding buy and sell financial products, raise funding and manage risk. The Investing & Lending segment includes the company’s investing and relationship lending activities across various asset classes. The Investment Management segment deals with the provision of investment and wealth advisory services. The company was founded by Marcus Goldman in 1869 and is headquartered in New York, NY.