Lower Earnings Expected, But Revenue May Rise Amidst Private Credit Portfolio Expansion

Analysts Expect Lower Earnings, Higher Revenue

Goldman Sachs Group, Inc. (GS) is scheduled to release its first-quarter earnings results before the market opens on April 15, 2024. Analysts anticipate the New York-based investment bank to report quarterly earnings of $8.56 per share, a slight decrease from $8.79 per share in the same period last year. However, revenue is projected to increase to $12.92 billion, compared to $12.22 billion in the previous year's first quarter, according to data from Benzinga Pro.

Goldman Sachs' Asset Management division reportedly aims to significantly expand its private credit portfolio, aiming to reach $300 billion within five years from its current level of $130 billion.

Goldman Sachs shares closed at $389.49 on Friday, down 2% from the previous day's close.

## Analyst Ratings on Goldman Sachs

JMP Securities: Analyst Devin Ryan maintained a "Market Outperform" rating and increased the price target from $440 to $460 on April 9, 2024. Ryan has an accuracy rate of 78%.

Analyst David Konrad maintained an "Outperform" rating and raised the price target from $445 to $485 on April 5, 2024. Konrad has an accuracy rate of 76%.

Analyst Gerard Cassidy reiterated a "Sector Perform" rating and a price target of $390 on March 27, 2024. Cassidy has an accuracy rate of 71%.

Analyst Chris Kotowski maintained an "Outperform" rating but lowered the price target from $506 to $446 on March 19, 2024. Kotowski has an accuracy rate of 82%.

Analyst James Fotheringham maintained a "Market Perform" rating and increased the price target from $357 to $360 on January 18, 2024. Fotheringham has an accuracy rate of 71%.