GS GOLDMAN SACHS GROUP INC

MIXED Impact: 3/10 ANALYST-UPGRADE
Processed 1mo ago SEC analyst-GS-freedomb-20251017
9 firms acted on GS: JP Morgan, Freedom Broker, BMO Capital, JMP Securities, HSBC, Oppenheimer, UBS, HSBC, Seaport Global
Final — all horizons settled through T+60d
GS ▲ +24.05% at T+60d
NEUTRAL call ✓ call won +24.05% · α vs SPY +20.08% · entry $750.31 → $930.74
Last close $1,045.00 (close Jun 8) · +39.28% from $750.31 entry
Entry anchored
Oct 17, 02:50 PM ET
via Databento tick
T+1d
+1.70%
call +1.70% · α +0.64%
$763.09
settled 8mo ago
T+5d
+4.42%
call +4.42% · α +2.47%
$783.50
settled 8mo ago
T+20d
+5.30%
call +5.30% · α +4.13%
$790.04
settled 7mo ago
T+60d
+24.05%
call +24.05% · α +20.08%
$930.74
settled 5mo ago

Price Chart

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Executive Summary

Freedom Broker upgraded Goldman Sachs from Sell to Hold on 2025-10-17, raising its price target from $633 to $794, yet the new target is still 14% below the current price of $923.77. The move is part of a 9-firm cluster of analyst actions on GS, though most were maintains. Freedom Broker has a 66% accuracy rate (45 correct out of 68 calls) with an 11.8% average return — below the top-tier firms covering GS. Consensus on GS is mixed: 47% Buy/Strong Buy, 50% Hold, and 3% Sell, with a mean price target of $935.1 implying just 1.2% upside. EPS revisions are mixed — current quarter estimates are being cut (4 up, 12 down over 30 days), while fiscal-year estimates are being raised (13 up, 7 down). Short interest is elevated at a 75% ratio, and insider selling exceeds $2.5M in recent months, diverging from new institutional buying (Norges Bank $2.5B position) and congressional purchases. The bottom line: the upgrade is a cautious positive step, but the below-market target and mixed cross-platform signals suggest no clear directional catalyst near-term.

Impact Score

Base Score
3/7
LLM Adjustment
+0
Final Score
3/10

Consensus & Targets

Buy / Strong Buy
15 (47%)
Hold
16
Sell / Strong Sell
1
Total Analysts
20
Mean PT
$935.10
Median PT
$961.00
High PT
$1,050.00
Low PT
$729.00
Current Price
$923.77
Implied Upside
+1.2%

32 analysts cover GS: 6 Strong Buy, 9 Buy (47% Buy/Strong Buy), 16 Hold (50%), 1 Sell (3%). The consensus leans Hold, with a strong minority of bullish ratings. Freedom Broker's Hold aligns with the plurality but is less optimistic than the 15 bullish analysts.

Mean price target $935.1, median $961, high $1050, low $729. Current price $923.77 trades near the mean, implying just 1.2% upside. Freedom Broker's $794 target is well below the mean (14% below current) and is the second-lowest among analysts, behind only the $729 low. The range is wide — 44% from low to high.

Recent Analyst Activity

DateFirmActionRatingPrice Target
2026-04-14 Wells Fargo maintain Overweight $1,000.00
2026-04-14 B of A Securities maintain Buy $1,050.00
2026-04-13 UBS maintain Neutral $930.00
2026-04-06 Evercore ISI Group maintain Outperform $950.00
2026-04-06 Jefferies maintain Buy $1,049.00
2026-03-10 JP Morgan maintain Neutral $826.00
2026-01-27 Freedom Broker maintain Hold $940.00
2026-01-20 RBC Capital maintain Sector Perform $1,030.00
2026-01-16 Wells Fargo maintain Overweight $1,050.00
2026-01-16 Keefe, Bruyette & Woods maintain Market Perform $1,000.00

0 upgrades and 0 downgrades in the last 30 days. EPS revision trends are mixed: for the current quarter (0q), 4 revisions up vs 12 down in the last 30 days, with estimates falling from $14.11 to $13.76. For the fiscal year (0y), 13 revisions up vs 7 down, with estimates rising from $58.25 to $59.34. Near-term pessimism contrasts with long-term optimism.

Firm Track Record — Freedom Broker

Freedom Broker accuracy: 66% on 68 calls | avg return: 11.8%

Industry benchmark: mean 51% ± 11%. Top tier: ≥61% (mean + 1σ). Based on 14 firms with ≥5 scored calls.

FirmAccuracyCallsAvg Returnvs Average
BMO Capital 100% 3/3 16.6% top tier
B of A Securities 100% 2/2 21.9% top tier
Citigroup 100% 6/6 14.9% top tier
Evercore ISI Group 100% 8/8 15.1% top tier
RBC Capital 100% 5/5 17% top tier
Morgan Stanley 90% 9/10 11% top tier
Wells Fargo 88% 7/8 13.6% top tier
UBS 80% 4/5 1% top tier
Keefe, Bruyette & Woods 75% 6/8 6.9% top tier
JMP Securities 75% 3/4 22.9% top tier

Freedom Broker has 66% accuracy (45 correct out of 68 called stocks) with an average return of 11.8%. This is below the top-tier firms covering GS: BMO Capital (100% on 3 calls, avg +16.6%), BofA (100% on 2, avg +21.9%), Citigroup (100% on 6, avg +14.9%), Evercore (100% on 8, avg +15.1%), and RBC Capital (100% on 5, avg +17%). Best performer is BofA (21.9% avg return), worst is UBS (1% avg return). Freedom Broker sits in the middle of the pack.

Earnings Estimates

Next earnings: Jul 14, 2026

PeriodEPS Est.EPS RangeRevenueRevisions (7d)
+1q $13.86 $12.62 — $15.11 $15.6B ↑4 ↓0
+1y $65.37 $58.95 — $74.26 $66.8B ↑8 ↓0
0y $59.34 $54.72 — $64.82 $63.7B ↑11 ↓0
0q $13.76 $13.00 — $15.16 $15.8B ↑7 ↓0

Cross-Platform Signals

Insider Trades (90d)
0 buys / 5 sells
Congressional
Maria Elvira Salazar (republican) — buy $15,001 - $50,000
Congressional
Maria Elvira Salazar (republican) — buy $15,001 - $50,000
Congressional
Dave McCormick (republican) — buy $100,001 - $250,000
Institutional
NORGES BANK — new
Institutional
YACKTMAN ASSET MANAGEMENT LP — trim (-27.8%)
Institutional
Olstein Capital Management, L.P. — trim (-57.1%)
Short Interest
Short: 448,545 | Exempt: 799 | TRF Vol: 597,761 | Short Ratio: 75.0% | Off-exchange volume (dark pool + OTC)

Insider trading shows four sells by top executives (Golten, Rogers, Coleman) totaling over $2.5M in Feb-Apr 2026. Congressional activity is positive: Maria Elvira Salazar (R) bought $15k-$50k in March, and Dave McCormick (R) bought $100k-$250k in Feb-Mar. Institutional changes are mixed: Norges Bank initiated a massive $2.5B position, but Two Sigma trimmed 68.6%, Yacktman trimmed 27.8%, and Olstein trimmed 57.1%. Short interest ratio is very high at 75% of off-exchange volume. Divergence: insider selling and high short interest conflict with congressional buys and Norges Bank's new position.

Actionable Insight

Freedom Broker's cautious upgrade to Hold with a target well below market suggests limited near-term upside, reinforced by high short interest and insider selling. However, the massive Norges Bank inflow and positive congressional trades provide a floor. Traders should avoid directional bets until the EPS revision trend for the current quarter stabilizes.

Documents Analyzed

Report based on filing metadata.

6 reports for GS
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for GS — sortable, filterable
Type Now
May 31, 2026
9d ago
ANALYST-UPGRADE
BULLISH ★ 3/10
$750.31 $790.04▲ +5.30%▲ +4.13%$1,045.00 (+39.28%)
May 1, 2026
5w ago
ANALYST-UPGRADE
MIXED ★ 3/10
$750.31 $790.04▲ +5.30%▲ +4.13%$1,045.00 (+39.28%)
May 1, 2026
5w ago
Insider Cluster
NEUTRAL ★ 2/10
$922.60 $1,048.58▲ +13.66%▲ +8.37%$1,045.00 (+13.27%)
May 1, 2026
5w ago
Insider Cluster
NEUTRAL ★ 2/10
$922.60 $1,048.58▲ +13.66%▲ +8.37%$1,045.00 (+13.27%)
Mar 20, 2026
11w ago
DEFA14A
NEUTRAL ★ 3/10
$813.24 $940.55▲ +15.65%▲ +6.34%$1,045.00 (+28.50%)
Feb 28, 2026
14w ago
Institutional Cluster
MIXED ★ 6/10
$860.05 $807.21▼ −6.14%▲ +1.79%$1,045.00 (+21.50%)
Showing 6 of 6

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