Piper Sandler Thinks Goldman Sachs Group’s Stock is Going to Recover

Piper Sandler analyst Jeff Harte maintained a Buy rating on Goldman Sachs Group (GSResearch Report) today and set a price target of $214.00. The company’s shares closed last Friday at $146.93, close to its 52-week low of $130.86.

According to TipRanks.com, Harte is a 2-star analyst with an average return of -1.2% and a 47.4% success rate. Harte covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Bank of America, and Morgan Stanley.

Currently, the analyst consensus on Goldman Sachs Group is a Moderate Buy with an average price target of $236.80, implying a 58.7% upside from current levels. In a report issued on March 23, Merrill Lynch also maintained a Buy rating on the stock with a $154.00 price target.

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The company has a one-year high of $250.47 and a one-year low of $130.86. Currently, Goldman Sachs Group has an average volume of 4.25M.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GS in relation to earlier this year.

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Goldman Sachs Group, Inc. engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients. The Global Markets segment serves its clients who buy and sell financial products, funding and manage risk. The Asset Management segment provides investment services to help clients preserve and grow their financial assets. The Consumer & Wealth Management segment helps clients to achieve their individual financial goals by providing a wealth advisory and banking services. The company was founded by Marcus Goldman in 1869 and is headquartered in New York, NY.