JMP Securities Cuts Goldman Sachs to Underperform (GS)
Goldman Sachs (NYSE: GS) was downgraded by research analysts at JMP Securities from an “outperform” rating to an “underperform” rating in a report released on Monday. They currently have a $77.00 target price on the stock, down from their previous target price of $169.00.
Shares of Goldman Sachs opened at 96.51 on Monday. Goldman Sachs has a one year low of $84.27 and a one year high of $142.30. The company has a market cap of $49.201 billion and a P/E ratio of 14.27.
Goldman Sachs last announced its earnings results on Tuesday, April 17th. The company reported $3.92 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.53 by $0.39. The company’s quarterly revenue was down 16.4% on a year-over-year basis. On average, analysts predict that Goldman Sachs will post $2.38 earnings per share next quarter.
A number of other analysts have also recently weighed in on GS. Analysts at Barclays Capital (NYSE: BCS) reiterated an “equalweight” rating on shares of Goldman Sachs in a research note to investors on Friday. Separately, analysts at TheStreet downgraded shares of Goldman Sachs to a “hold” rating in a research note to investors on Tuesday, May 8th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Goldman Sachs in a research note to investors on Wednesday, April 18th. They now have a $123.00 price target on the stock.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.