{"id":46292,"date":"2023-08-09T09:04:54","date_gmt":"2023-08-09T13:04:54","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/what-to-expect-from-goldman-sachs-stock\/"},"modified":"2023-08-09T09:04:57","modified_gmt":"2023-08-09T13:04:57","slug":"what-to-expect-from-goldman-sachs-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46292","title":{"rendered":"What To Expect From Goldman Sachs Stock?"},"content":{"rendered":"
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Goldman Sachs\u2019 stock (NYSE: GS) has gained approximately 4% YTD as compared to the 18% rise in the S&P500 index over the same period. Further, at its current price of $356 per share, it is trading 2% below its fair value of $363 \u2013 Trefis\u2019 estimate for Goldman Sachs\u2019 valuation<\/strong>. <\/strong>The investment bank posted mixed results in the second quarter of 2023, with revenues topping the consensus but earnings missing expectations. It reported total revenues of $10.9 billion \u2013 down 8% y-o-y, primarily driven by a 14% drop in the global banking & markets (which include investment banking and sales & trading) and a 4% decline in asset & wealth management. Notably, the asset & wealth management unit mainly suffered due to lower equity and debt investment revenues. That said, the top line was somewhat supported by a 92% jump in the platform solutions segment. On the cost front, the expenses figure increased by 12% y-o-y. Overall, the adjusted net income was reduced by 62% y-o-y to $1.07 billion.<\/p>\n

The bank\u2019s top line decreased 7% y-o-y to $23.1 billion in the first half of FY 2023. It was primarily due to a 15% drop in the global banking & markets division \u2013 investment banking and FICC (fixed income, commodity, and currency) trading declined by 24% and 21%, respectively. However, the negative impact was somewhat tempered by an 8% growth in asset & wealth management, followed by a 100% jump in the platform solutions. On the expense front, the operating expenses for the first half witnessed an unfavorable increase of 10% y-o-y. Altogether, the adjusted net income fell by 37% y-o-y to $4.2 billion.<\/p>\n

Moving forward, we expect the same trend to continue in Q3. All in all, Goldman Sachs revenues<\/strong> are forecast to touch $43.56 billion in FY2023. Additionally, GS\u2019 adjusted net income margin is likely to decrease from 22.7% to 20.8%, leading to an adjusted net income of $9.1 billion. This coupled with an annual EPS of $26 and a P\/E multiple of 14x will lead to a valuation of $363.<\/p>\n

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Goldman Sachs\u2019 stock (NYSE: GS) has gained approximately 4% YTD as compared to the 18% rise in the S&P500 index over the same period. Further, at its current price of $356 per share, it is trading 2% below its fair value of $363 \u2013 Trefis\u2019 estimate for Goldman Sachs\u2019 valuation. The investment bank posted mixed […]<\/p>\n","protected":false},"author":1,"featured_media":46293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-46292","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nWhat To Expect From Goldman Sachs Stock? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Goldman Sachs\u2019 stock (NYSE: GS) has gained approximately 4% YTD as compared to the 18% rise in the S&P500 index over the same period. 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