The Goldman Sachs Group Inc (NYSE: GS) will be reporting its second-quarter earnings on Monday. Wall Street expects $8.83 in earnings per share (EPS) and $12.7 billion in revenues as the company reports before market hours.
The stock is up 49.49% over the past year, 24.34% year-to-date.
Goldman Sachs stock exhibits a robust bullish trend, with its share price of $479.50 comfortably above its 5, 20, and 50-day exponential moving averages.
The 8-day simple moving average at $471.69 and the 20-day SMA at $460.97 both signal a bullish outlook. The 50-day SMA at $456.80 and the 200-day SMA at $389.33 further confirm this positive trajectory.
The Moving Average Convergence Divergence (MACD) indicator stands at 6.83, reinforcing the bullish sentiment. However, with the Relative Strength Index (RSI) at 66.33, the stock is approaching overbought territory, suggesting caution may be warranted.
Bollinger Bands (25) ranging from $438.33 to $479.99 support the bullish perspective. Despite slight selling pressure, the technical indicators collectively point towards continued bullish momentum for Goldman Sachs.
Goldman Sachs Analysts Still See Some Upside Left
Ratings & Consensus Estimates: The consensus analyst rating on Goldman Sachs stock stands at a Buy currently with a price target of $441.03. The latest analyst ratings for Goldman Sachs came from UBS, Evercore ISI Group, and Keefe, Bruyette & Woods, with an average price target of $510, suggesting a 6.19% upside.
GS Price Action: Goldman Sachs' stock was trading at $480.26 at the time of publication.