Goldman Sachs Bullish Ahead of Q2 Earnings: How Shares Map Out to Wall Street Estimates – Goldman Sachs Gr (NYSE:GS)

Goldman Sachs Group Inc. GS will release its second-quarter earnings report on Monday. Wall Street is expecting $8.83 in earnings per share (EPS) and $12.7 billion in revenue as the company releases the report before market hours open.

Over the past year, the company’s shares have risen by 49.49% and by 24.34% since the beginning of the year.

Goldman Sachs stock is in a strong uptrend, with the stock price of $479.50 well above its 5-, 20-, and 50-day exponential moving averages.

Chart created with Benzinga Pro

The 8-day simple moving average at $471.69 and 20-day SMA at $460.97 signal a bullish outlook. The 50-day SMA at $456.80 and 200-day SMA at $389.33 further confirm this positive trajectory.

Chart created with Benzinga Pro

The Moving Average Convergence Divergence (MACD) is at 6.83, reinforcing the bullish bias. 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 outlook. Despite some selling pressure, technical indicators collectively point to continued bullish momentum for Goldman Sachs.

Also read: $1,000 invested in this stock 5 years ago would be worth $2,300 today

Goldman Sachs analysts still see some growth potential

Ratings and consensus estimates: The analyst consensus on Goldman Sachs stock is currently a Buy with a price target of $441.03. The latest analyst ratings for Goldman Sachs come from UBS, Evercore ISI Group, and Keefe, Bruyette & Woods, with an average price target of $510, suggesting an upside of 6.19%.

GS price action: At the time of publication, Goldman Sachs shares were trading at $480.26.

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