Fintel reports that on July 25, 2023, Citigroup downgraded their outlook for Goldman Sachs Group (NYSE:GS) from Buy to Neutral.

Analyst Price Forecast Suggests 8.75% Upside

As of July 6, 2023, the average one-year price target for Goldman Sachs Group is 390.34. The forecasts range from a low of 308.05 to a high of $493.50. The average price target represents an increase of 8.75% from its latest reported closing price of 358.93.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Goldman Sachs Group is 52,341MM, an increase of 19.62%. The projected annual non-GAAP EPS is 38.63.

What is the Fund Sentiment?

There are 2853 funds or institutions reporting positions in Goldman Sachs Group. This is a decrease of 16 owner(s) or 0.56% in the last quarter. Average portfolio weight of all funds dedicated to GS is 0.60%, a decrease of 3.27%. Total shares owned by institutions increased in the last three months by 6.22% to 294,574K shares. The put/call ratio of GS is 1.27, indicating a bearish outlook.

What are Other Shareholders Doing?

Ofi Invest Asset Management holds 25,476K shares representing 8.92% ownership of the company.

Capital World Investors holds 9,790K shares representing 3.43% ownership of the company. In it’s prior filing, the firm reported owning 5,699K shares, representing an increase of 41.78%. The firm increased its portfolio allocation in GS by 58.67% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 9,518K shares representing 3.33% ownership of the company. In it’s prior filing, the firm reported owning 9,442K shares, representing an increase of 0.80%. The firm decreased its portfolio allocation in GS by 11.33% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 7,250K shares representing 2.54% ownership of the company. In it’s prior filing, the firm reported owning 7,178K shares, representing an increase of 1.00%. The firm decreased its portfolio allocation in GS by 10.76% over the last quarter.

Massachusetts Financial Services holds 6,797K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 6,840K shares, representing a decrease of 0.63%. The firm decreased its portfolio allocation in GS by 85.77% over the last quarter.

Goldman Sachs Group Background Information
(This description is provided by the company.)

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

This article originally appeared on Fintel

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