Goldman Sachs Likely To Report Sharp Decline In Q2 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Goldman Sachs Group, Inc. (NYSE:GS) is expected to report a sharp decline in its Q2 earnings, with analysts predicting earnings of $3.18 per share, down from $7.73 per share a year ago. The company's revenue is expected to be around $10.84 billion. Despite this, Goldman Sachs shares rose 3.1% to close at $337.27 on Tuesday. Several analysts have recently adjusted their price targets for the company, with the majority maintaining a positive outlook.
July 19, 2023 | 6:21 am
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Goldman Sachs is expected to report a significant drop in Q2 earnings. Despite this, its shares rose and analysts maintain a positive outlook, suggesting potential resilience in the face of negative earnings news.
While the expected sharp decline in Q2 earnings is a negative factor, the recent rise in Goldman Sachs' share price and the positive outlook maintained by several analysts suggest that the market may have already priced in the expected earnings decline. Therefore, the short-term impact on the stock price may be neutral.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100