Goldman Sachs and Morgan Stanley Beat Earnings Expectations, Market Rebounds
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
- Market Rebound: Despite the S&P 500 closing lower yesterday due to declines in bank and tech stocks, futures are up this morning, indicating a positive market response to Goldman Sachs and Morgan Stanley's earnings, potentially restoring investor confidence.
- Goldman Sachs Earnings: Goldman Sachs reported earnings of $14.01 per share on $13.45 billion in revenue, although it was unclear if these figures were comparable to Wall Street's estimates of $11.67 per share and $13.79 billion, yet they still reflect strong profitability that could drive stock price increases.
- Morgan Stanley Surpasses Expectations: Morgan Stanley's earnings exceeded analyst forecasts, with shares rising over 2% in pre-market trading, indicating market recognition of its financial health and potentially attracting more investor interest.
- Political Risk Impacting Markets: While gold and silver prices reached new highs, reflecting investor demand for safe havens amid political risks, Trump's confirmation of Nvidia chip sales to China failed to boost related stocks, highlighting the market's sensitivity to policy changes.
Analyst Views on GS
Wall Street analysts forecast GS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for GS is 829.54 USD with a low forecast of 750.00 USD and a high forecast of 890.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
6 Buy
8 Hold
0 Sell
Moderate Buy
Current: 932.670
Low
750.00
Averages
829.54
High
890.00
Current: 932.670
Low
750.00
Averages
829.54
High
890.00
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.
