Goldman Sachs reported its first quarter earnings that beat analysts’ expectations.
The banking behemoth’s earnings fell to $3.83 billion in the quarter, or $10.78 a share, from $6.71 billion, or $18.60 a share, in the year-ago quarter. However, it crushed analysts’ expectations of $8.89 a share.
Revenue decreased to $12.93 billion in the quarter, from $17.7 billion in the year-ago period. Analysts had expected $11.83 billion.
Revenue at Goldman’s fixed income desk was $4.72 billion, nearly $1.7 billion more than analysts surveyed by StreetAccount expected. Equities desks generated $3.15 billion in revenue, about $570 million more than expected.
GS saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on June 01, 2023. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 45 instances where the indicator turned negative. In of the 45 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 60 cases where GS's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on June 01, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on GS as a result. In of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
GS moved below its 50-day moving average on May 31, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for GS crossed bearishly below the 50-day moving average on May 11, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
GS broke above its upper Bollinger Band on May 26, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GS advanced for three days, in of 321 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 234 cases where GS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.985) is normal, around the industry mean (3.634). P/E Ratio (11.261) is within average values for comparable stocks, (36.395). Projected Growth (PEG Ratio) (1.998) is also within normal values, averaging (2.338). Dividend Yield (0.030) settles around the average of (0.038) among similar stocks. P/S Ratio (2.421) is also within normal values, averaging (106.084).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 79, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. GS’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of investment banking, securities and asset management services
A.I.dvisor indicates that over the last year, GS has been closely correlated with MS. These tickers have moved in lockstep 76% of the time. This A.I.-generated data suggests there is a high statistical probability that if GS jumps, then MS could also see price increases.