Goldman Sachs' Bullish Surge Ahead Of Q2 Earnings: How The Stock Maps Against Wall Street Estimates

The Goldman Sachs Group Inc 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.

Chart created using Benzinga Pro

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.

Chart created using Benzinga Pro

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.

Read Also: $1000 Invested In This Stock 5 Years Ago Would Be Worth $2,300 Today

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.

Read Next:

• Goldman Sachs To Launch Three Tokenization Projects By Year-End: ‘It’ll Change The Nature Of How Clients Can Invest’