If You Invested $1,000 In Goldman Sachs (GS) Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now

Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two and a half years.

But there was no question some big-name stocks performed better than others since the pandemic bottom.

Goldman's Bumpy Ride: One company that has been a solid investment is U.S. Investment bank Goldman Sachs Group GS.

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At the beginning of 2020, Goldman shares were trading at $231. The stock was trading at around $201 at the start of March, as news of the coronavirus spreading in China prompted concerns about a U.S. pandemic.

When the market crashed later that month, Goldman shares dropped as low as $130.85 on March 19, 2020.

When the market bounced off the pandemic lows, Goldman began to rebound as well. The stock recovered to a high of $222.98 in June 2020 before its recovery rally stalled. Goldman shares traded all the way back down to $188.51 in July.

After a huge break-out to the upside in November, Goldman finished 2020 back above $263.

The stock rallied to new post-pandemic highs in January 2021 and climbed as high as $426.16 in October before pulling back to finish 2021 at around $382.

Big bank stocks boomed in late 2020 and early 2021 as investors anticipated higher interest rates could be good news for net interest margins. The Federal Reserve was forced to raise interest rates so aggressively to combat inflation that bank stocks slumped in 2022 on fears that higher rates could trigger an economic downturn and negatively impact loan growth.

Goldman Sachs In 2023, Beyond: Bank stock selling pressure intensified in 2022, sending Goldman shares as low as $277.84 in July. The stock bounced to finish the year at around $343, and today shares are trading at $347.51.

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Still, investors who bought Goldman on the day it hit its 2020 pandemic low and held on have generated a decent return on their investment. In fact, $1,000 in Goldman stock bought on March 19, 2020, would be worth about $2,471 today, assuming reinvested dividends.

Looking ahead, analysts are expecting Goldman's stock to gain more ground in the next 12 months. The average price target among the 23 analysts covering the stock is $393, suggesting a 13.3% upside from current levels.

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