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Goldman Sachs tops Wall Street estimates

18 January 2024 By Klavs Valters

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The Goldmans Sachs Group Inc. (NYSE: GS) released the latest financial results for the last quarter of 2023 and the full year on Tuesday.

The New York based financial firm reported revenue of $11.318 billion for the quarter vs. $10.797 billion estimate.

Earnings per share (EPS) reported at $5.48 per share vs. $3.617 per share expected.

Total revenue reached $46.25 billion in 2023. Full-year EPS reported at $22.87 per share.

Company overview

  • Founded: 1869
  • Headquarters: New York, United States
  • Number of employees: 48,500 (2022)
  • Industry: Financial services
  • Key people: Lloyd Blankfein (Senior Chairman), David M. Solomon (Chairman and CEO)

CEO commentary

David Solomon, CEO of Goldman Sachs, commented on the latest results: “This was a year of execution for Goldman Sachs. With everything we achieved in 2023 coupled with our clear and simplified strategy, we have a much stronger platform for 2024. Our strategic objectives underscore our relentless commitment to serve our clients with excellence, further strengthen our leading client franchise and continue to deliver for shareholders.”

Stock reaction

Shares of Goldman Sachs were up by 0.71% at the end of trading day on Tuesday, trading at $380.45 a share.

Stock performance

  • 5 day: -2.77%
  • 1 month: +0.45%
  • 3 months: +20.26%
  • Year-to-date: -1.99%
  • 1 year: +1.10%

Goldmans Sachs stock price targets

  • BMO Capital Markets: $357
  • JP Morgan: $421
  • UBS Group: $440
  • Barclays: $493
  • Morgan Stanley: $333
  • Oppenheimer: $468
  • JPM Securities: $440
  • Citigroup: $380
  • HSBC: $403
  • Credit Suisse: $410
  • Wells Fargo: $390
  • Bank of America: $425

Goldmans Sachs Group Inc. is the 109th largest company in the world with a market cap of $123.38 billion.

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  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
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Sources: Goldmans Sachs Group Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.

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