Goldman Sachs reaches 52-week high amid market strength
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 09 2024
0mins
Should l Buy GS?
Source: Coinmarketcap
Goldman Sachs Group Inc saw a price increase of 3.00%, reaching a 52-week high. This movement aligns with the broader market, as the Nasdaq-100 is up 0.65% and the S&P 500 is up 0.56%.
The stock's rise is attributed to the potential for a historic stock split, as over 30% of its shares are held by non-institutional investors. This situation, combined with the stock price soaring from $60 to $879, suggests that a split could enhance Goldman Sachs' attractiveness to retail investors, despite concerns about its influence in the Dow Jones index.
The implications of this potential split could lead to increased retail participation and further bolster the stock's performance, reflecting a positive outlook for Goldman Sachs in the current market environment.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy GS?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on GS
Wall Street analysts forecast GS stock price to rise
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 905.140
Low
604.00
Averages
951.45
High
1100
Current: 905.140
Low
604.00
Averages
951.45
High
1100
About GS
The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Its segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse set of clients. It also provides investing and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Goldman Sachs Plans to Remove Board Diversity Requirements
- Change in Board Diversity Policy: Goldman Sachs plans to eliminate diversity factors such as race, gender identity, and sexual orientation from its board candidate selection criteria, marking a significant shift in its diversity, equity, and inclusion (DEI) policy that may attract widespread scrutiny from society and investors.
- Driving Forces Behind the Decision: This decision follows a request from the conservative nonprofit National Legal and Policy Center, which submitted a proposal to Goldman in September to remove DEI criteria, highlighting the influence of external pressures on corporate governance policies.
- Agreement Before Shareholder Meeting: Goldman has informed the NLPC of its intention to remove DEI criteria and signed an agreement to withdraw the proposal, indicating the company's commitment to governance transparency and responsiveness to shareholder opinions ahead of the upcoming annual meeting.
- Board Approval Expected: The Goldman Sachs board is expected to approve the new language this month, reflecting adjustments in the company's governance structure that could impact future board candidate selection standards and the company's public image.
See More
Concerns Over AI Investment May Be Misguided as Tech Market Decline Hides Potential Opportunities
- Current Market Concerns: Investors are worried about the high levels of artificial intelligence investment spending.
- Potential Risks: There are concerns that this spending could strain corporate balance sheets and introduce hidden risks in bond and credit markets.
See More
Wall Street Sentiment Dips as AI Summit Gains Attention
- Market Sentiment Dips: Despite the latest inflation data coming in slightly lower than expected, Wall Street failed to rally before the holiday weekend, with the S&P 500 dropping over 1% last week, reflecting concerns about the impact of artificial intelligence on industries like trucking, media, and real estate.
- Jesse Jackson Passes Away: Civil rights leader Jesse Jackson has died at the age of 84, prompting widespread tributes to his contributions to equality and justice, highlighting his significant role in the American civil rights movement.
- Pritzker Resigns: Hyatt Hotels Chairman Thomas Pritzker has stepped down due to his ties with the late sex offender Jeffrey Epstein, expressing regret over his judgment, a move that underscores the pressure business leaders face amid scandal revelations.
- AI Summit Held: Tech moguls are gathering in India for an artificial intelligence summit, with OpenAI's Sam Altman and others expected to attend, although Nvidia's Jensen Huang has pulled out due to
See More
Trump Family Meets Financial and Tech Leaders at Mar-a-Lago
- Finance and Tech Summit: On Wednesday, prominent business leaders and government officials will convene at Trump's private club, Mar-a-Lago, to discuss the future of finance and technology, with notable attendees including Goldman Sachs CEO David Solomon and Nasdaq CEO Adena Friedman, highlighting the financial sector's keen interest in policy developments.
- Conflict of Interest Debate: Legal and government ethics experts are divided on whether the event poses a serious conflict of interest, with former government ethics attorney Chris Swartz expressing concerns about the Trump family's use of public office for private gain, potentially undermining public trust in governance.
- Crypto Earnings: During Trump's first year back in office, the family has reportedly made over $1 billion from crypto projects, primarily from their stablecoin USD1, illustrating the significant potential of the crypto market and the intertwining of the Trump family's business interests with evolving regulations.
- Importance of Cross-Sector Dialogue: A spokesman for World Liberty stated that it is not unprecedented for leaders in finance, technology, and government to convene to discuss the future of critical markets, emphasizing the necessity of such cross-sector dialogue despite the surrounding controversy regarding its implications.
See More
Hyatt Chairman Pritzker Resigns Amid Epstein Controversy
- Chairman's Resignation: Thomas Pritzker, the chairman of Hyatt Hotels, announced his immediate resignation after over two decades in the role, highlighting the pressures and challenges facing corporate governance amid scandals.
- Scandal Association: Pritzker expressed regret over his ties to sex offender Jeffrey Epstein, admitting to poor judgment in maintaining contact, which could negatively impact Hyatt's brand image and stakeholder trust.
- Succession Plan: The Hyatt board appointed CEO Mark Hoplamazian as the new chairman, ensuring continuity in governance and aiming to stabilize investor confidence during this transitional period.
- Executive Resignation Wave: Pritzker's departure marks the latest in a series of high-profile resignations, reflecting the corporate world's heightened sensitivity to associations with Epstein, potentially affecting future leadership structures and strategic directions.
See More
Wall Street's Market Volatility and AI Investment Outlook
- Market Volatility Analysis: The S&P 500 index was nearly flat last week, closing at a level first reached 112 calendar days ago, reflecting a blend of optimism for economic recovery and the intertwining of an AI investment boom, despite mini-crashes in some sectors indicating internal market turbulence and uncertainty.
- AI Investment Outlook: With significant growth expected in AI capital expenditures for 2026, Nvidia's stock price remains flat compared to six months ago, and its forward P/E ratio has dropped to the lowest level since 2015, suggesting a cautious market sentiment regarding the future potential of the AI sector, which may impact investor confidence.
- Consumer Stock Performance: The relative weakness in consumer-exposed stocks contrasts sharply with the performance of traditionally defensive staples, leading to divergent interpretations in the market, which may reflect changes in cyclical demand or deeper economic concerns.
- Corporate Earnings Trends: The S&P 500 is projected to achieve low to mid-teens profit growth in the fourth quarter, surpassing consensus forecasts, yet the continuous outperformance of earnings results may lead to future adjustment risks as the market assumes such margins of victory.
See More
Goldman Sachs Plans to Remove Board Diversity Requirements
- Change in Board Diversity Policy: Goldman Sachs plans to eliminate diversity factors such as race, gender identity, and sexual orientation from its board candidate selection criteria, marking a significant shift in its diversity, equity, and inclusion (DEI) policy that may attract widespread scrutiny from society and investors.
- Driving Forces Behind the Decision: This decision follows a request from the conservative nonprofit National Legal and Policy Center, which submitted a proposal to Goldman in September to remove DEI criteria, highlighting the influence of external pressures on corporate governance policies.
- Agreement Before Shareholder Meeting: Goldman has informed the NLPC of its intention to remove DEI criteria and signed an agreement to withdraw the proposal, indicating the company's commitment to governance transparency and responsiveness to shareholder opinions ahead of the upcoming annual meeting.
- Board Approval Expected: The Goldman Sachs board is expected to approve the new language this month, reflecting adjustments in the company's governance structure that could impact future board candidate selection standards and the company's public image.
See More
Concerns Over AI Investment May Be Misguided as Tech Market Decline Hides Potential Opportunities
- Current Market Concerns: Investors are worried about the high levels of artificial intelligence investment spending.
- Potential Risks: There are concerns that this spending could strain corporate balance sheets and introduce hidden risks in bond and credit markets.
See More
Wall Street Sentiment Dips as AI Summit Gains Attention
- Market Sentiment Dips: Despite the latest inflation data coming in slightly lower than expected, Wall Street failed to rally before the holiday weekend, with the S&P 500 dropping over 1% last week, reflecting concerns about the impact of artificial intelligence on industries like trucking, media, and real estate.
- Jesse Jackson Passes Away: Civil rights leader Jesse Jackson has died at the age of 84, prompting widespread tributes to his contributions to equality and justice, highlighting his significant role in the American civil rights movement.
- Pritzker Resigns: Hyatt Hotels Chairman Thomas Pritzker has stepped down due to his ties with the late sex offender Jeffrey Epstein, expressing regret over his judgment, a move that underscores the pressure business leaders face amid scandal revelations.
- AI Summit Held: Tech moguls are gathering in India for an artificial intelligence summit, with OpenAI's Sam Altman and others expected to attend, although Nvidia's Jensen Huang has pulled out due to
See More
Trump Family Meets Financial and Tech Leaders at Mar-a-Lago
- Finance and Tech Summit: On Wednesday, prominent business leaders and government officials will convene at Trump's private club, Mar-a-Lago, to discuss the future of finance and technology, with notable attendees including Goldman Sachs CEO David Solomon and Nasdaq CEO Adena Friedman, highlighting the financial sector's keen interest in policy developments.
- Conflict of Interest Debate: Legal and government ethics experts are divided on whether the event poses a serious conflict of interest, with former government ethics attorney Chris Swartz expressing concerns about the Trump family's use of public office for private gain, potentially undermining public trust in governance.
- Crypto Earnings: During Trump's first year back in office, the family has reportedly made over $1 billion from crypto projects, primarily from their stablecoin USD1, illustrating the significant potential of the crypto market and the intertwining of the Trump family's business interests with evolving regulations.
- Importance of Cross-Sector Dialogue: A spokesman for World Liberty stated that it is not unprecedented for leaders in finance, technology, and government to convene to discuss the future of critical markets, emphasizing the necessity of such cross-sector dialogue despite the surrounding controversy regarding its implications.
See More
Hyatt Chairman Pritzker Resigns Amid Epstein Controversy
- Chairman's Resignation: Thomas Pritzker, the chairman of Hyatt Hotels, announced his immediate resignation after over two decades in the role, highlighting the pressures and challenges facing corporate governance amid scandals.
- Scandal Association: Pritzker expressed regret over his ties to sex offender Jeffrey Epstein, admitting to poor judgment in maintaining contact, which could negatively impact Hyatt's brand image and stakeholder trust.
- Succession Plan: The Hyatt board appointed CEO Mark Hoplamazian as the new chairman, ensuring continuity in governance and aiming to stabilize investor confidence during this transitional period.
- Executive Resignation Wave: Pritzker's departure marks the latest in a series of high-profile resignations, reflecting the corporate world's heightened sensitivity to associations with Epstein, potentially affecting future leadership structures and strategic directions.
See More
Wall Street's Market Volatility and AI Investment Outlook
- Market Volatility Analysis: The S&P 500 index was nearly flat last week, closing at a level first reached 112 calendar days ago, reflecting a blend of optimism for economic recovery and the intertwining of an AI investment boom, despite mini-crashes in some sectors indicating internal market turbulence and uncertainty.
- AI Investment Outlook: With significant growth expected in AI capital expenditures for 2026, Nvidia's stock price remains flat compared to six months ago, and its forward P/E ratio has dropped to the lowest level since 2015, suggesting a cautious market sentiment regarding the future potential of the AI sector, which may impact investor confidence.
- Consumer Stock Performance: The relative weakness in consumer-exposed stocks contrasts sharply with the performance of traditionally defensive staples, leading to divergent interpretations in the market, which may reflect changes in cyclical demand or deeper economic concerns.
- Corporate Earnings Trends: The S&P 500 is projected to achieve low to mid-teens profit growth in the fourth quarter, surpassing consensus forecasts, yet the continuous outperformance of earnings results may lead to future adjustment risks as the market assumes such margins of victory.
See More
