Is Goldman Sachs Group a Good Financial Stock to Invest In? By StockNews

Is Goldman Sachs Group a Good Financial Stock to Invest In?

Stock MarketsDec 21, 2021 09:31AM ET

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Is Goldman Sachs Group a Good Financial Stock to Invest In?

Shares of leading financial institution Goldman Sachs (GS) have gained 40.9% in price year-to-date owing to its booming investment banking division. However, analysts have raised concerns about the company's growth outlook in the coming year because the Fed plans to tighten its monetary policy. So, is it worth adding the stock to one’s portfolio now? Let's find out.Leading global financial institution, Goldman Sachs Group Inc. (NYSE:GS), delivers a broad range of financial services across investment banking, securities, investment management, and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments, and individuals. Its stock has gained 40.9% in price year-to-date on the back of various collaborations.

The company beat analysts' expectations for revenues by 16.6% and their EPS estimates by 47%, backed by strong performance in mergers and acquisitions (M&A), as well as a hot market for initial public offering (IPOs).

However, management cited a few key factors that could affect the firm’s revenue growth in the coming months, including the increased likelihood of monetary policy tightening in the near term owing to inflationary pressures. This would tend to dissuade corporations from engaging in M&A activities. Also, GS' shares have declined 4.1% in price over the past month due to the broader market sell-off prompted by mounting concerns about the COVID-19 omicron variant.

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